During a recent European Free Trade Association meeting, negotiations took place between Liechtenstein and the European Union to finalise an anti-fraud agreement, the conclusion of which would cement Liechtenstein’s commitment to conforming to European standards with regard to cross-border exchange of information.
According to Prime Minister Otmar Hasler, Liechtenstein remains determined to discourage cross-border tax offences. While maintaining that Liechtenstein was fully prepared to co-operate, however, Hasler added that it should not be expected to provide any greater degree of cooperation than that currently conceded by other European Union member states. Indeed, calls for double taxation agreements to be signed with states harbouring additional demands would be met by Liechtenstein’s request to be recognised as a diverse and highly industrialized business location, Hasler said.
The draft form of the anti-fraud agreement reflects Liechtenstein’s commitment to providing legal and administrative assistance, on the basis of a widened concept of fraud. Furthermore, Liechtenstein has also revealed its intention to fully comply with the Organisation for Economic Co-operation and Development's standards regarding bilateral double taxation agreements.
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