The Liechtenstein government has ratified proposals seeking to amend three provisions contained within its value-added tax (VAT) law.
Among the new provisions detailed in the bill is an order to align Liechtenstein's legislation with Swiss VAT law.
As a result of these modifications, the tax exemption afforded to investment companies will be regulated differently in future. Not only will a distinction now be made between investment companies with fixed and variable capital, but also investment fund assets, hitherto benefiting from tax exemptions, will be deprived of their favourable position.
However, the number of beneficiaries, both individuals and organisations alike, gaining from tax exemptions and enjoying international legal privileges, immunities and facilities, will be widened.
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