Liechtenstein's Treaty With The United States Faces Delays

by Ulrika Lomas, Tax-News.com, Brussels

09 October 2002

The Liechtensteiner Vaterland news service revealed this week that, contrary to previous reports, the mutual judicial assistance treaty signed with the United States on July 8 will not now go before Parliament for ratification during the October session.

Earlier this month, the locally-based newspaper announced that the treaty would be scrutinised during the October 23-25 session, but suggested that the pre-ratification discussion process was likely to be 'very interesting', given that:

'Critics of the treaty...fear that allowances made by Liechtenstein in this treaty might be the beginning of an open exchange of information in fiscal matters on an official level and thus the end of an essential locational advantage.'

Reporting on Monday, the Vaterland suggested that these fears may be part of the reason why the ratification of the treaty has been delayed, reasoning that perhaps 'government still needs time to convince the critics of the treaty of its usefulness.'

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