Liechtenstein Government Close-Lipped About OECD Communication

by Ulrika Lomas, Tax-News.com, Brussels

10 April 2002

Head of Government, Otmar Hasler has been playing his cards very close to his chest regarding Liechtenstein's position vis-a-vis the OECD, according to a recent report in the Liechtensteiner Vaterland.

Although several other jurisdictions have been removed from the Organisation for Economic Cooperation and Development's 'blacklist' following the February 28 deadline, Liechtenstein remains under the scrutiny of the multilateral group, alongside jurisdictions such as Monaco, Andorra, Liberia, Panama, and the Marshall Islands.

However, the principality was removed from the FATF's anti-money laundering blacklist in June 2001, a discrepancy which the authorities have pointed out to OECD officials during talks.

The newspaper reported that, speaking on Liechtestein radio, Mr Hasler revealed that the OECD had contacted the government in writing. Although the Head of Government said that there were no concrete demands contained within the communication, he hinted that a compromise with the international body at this stage was unlikely.

However, he refused to comment further prior to having discussed the matter with the relevant internal departments and affected economic associations.

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