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Liechtenstein, Japan Edge Closer To DTA Talks

by Ulrika Lomas, Tax-News.com, Brussels

05 October 2012


Liechtenstein’s Prime Minister Klaus Tschütscher recently held talks in Japan with his Japanese counterpart Prime Minister Yoshihiko Nodo, with the discussions focussing on the bilateral tax information exchange agreement (TIEA) concluded between the two countries and on plans for a double taxation agreement (DTA).

During the course of the meeting, the two prime ministers discussed the TIEA, which will serve to further enhance cooperation between the two countries. Entry into force of the accord is provisionally planned for the beginning of 2013.

According to Tschütscher, the bilateral TIEA is in accordance with the Organization for Economic Cooperation and Development’s (OECD) model convention and will create the necessary framework conditions for the effective exchange of information between the two jurisdictions.

Tschütscher explained to Prime Minister Nodo that the Principality’s industry representatives are eager to further extend existing trade relations and to increase investment in Japan. Numerous Liechtenstein corporations have for a long time been successfully active in Japan.

Representatives of the Liechtenstein financial centre also held key talks with high-ranking representatives from the Japanese finance ministry, from the Bank of Japan and from the Japan Securities Dealers Association.

Both sides exchanged views on current challenges as regards the global economic situation and financial stability, and the Liechtenstein delegation used the opportunity to provide information on the Principality’s financial centre and tax strategies.

Following the successful conclusion of the TIEA with Japan, Liechtenstein now aims in a further step to initiate negotiations on a DTA with Japan.

TAGS: tax | investment | tax information exchange agreement (TIEA) | double tax agreement (DTA) | banking | Liechtenstein | offshore | agreements | Japan

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