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Liechtenstein Proves Itself Useful Economic Partner To Germany

by Ulrika Lomas, Tax-News.com, Brussels

06 December 2012


During a recent meeting in the Bavarian parliament, Liechtenstein’s Prime Minister Klaus Tschütscher, representatives of the Liechtenstein Chamber of Commerce and Industry and representatives of the Liechtenstein Banking Association highlighted the fact that Liechtenstein currently ranks among the most competitive industrial and economic locations in Europe.

Citing the example of the Liechtenstein fund law, President of the Liechtenstein Banking Association Adolf Real emphasized that what is unique and remarkable about Liechtenstein’s financial centre strategy is the close cooperation between the government, regulators, and industry, and the ability to use new regulations in Europe as a market opportunity.

While underscoring the aim to increasingly position the Principality as a stable and professional location at the heart of Europe, Real nevertheless insisted that a sustainable future strategy must provide for solutions to resolve the past and to build a bridge to the future. Consequently, the country stands firmly behind a strategy based on tax compliance, to offer customized products and services within the context of an increasingly transparent and challenging environment, adhering to the latest applicable framework conditions.

Josef Beck of the Liechtenstein Chamber of Commerce and Industry underlined the importance of the double taxation agreement concluded with Germany, recently adopted by the German Bundesrat, or upper house of parliament, stressing that it is an “important milestone and prerequisite” for further deepening economic relations and cooperation between the two countries.

Concluding, Tschütscher underlined the fact that a skilful and future-orientated industry, a modern and traditional financial centre, and strong commerce serve to make Liechtenstein a proven and coveted economic partner. Tschütscher said that what is now needed more than ever are new strategies, creative ideas and innovations, both as regards policy and the economy. It is therefore imperative that networks and cooperation between industry, science and politics extend beyond national borders, Tschütscher ended.

Germany is the most important export country for Liechtenstein, ahead of the US and France. Numerous Liechtenstein companies are active in Germany, many in Bavaria in research-intensive niche markets as global leaders.

TAGS: environment | compliance | tax | investment | double tax agreement (DTA) | tax compliance | tax avoidance | commerce | law | international financial centres (IFC) | Liechtenstein | offshore | agreements | France | Germany | regulation | services

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