Tax Information Exchange United Kingdom - Liechtenstein

A Tax information exchange agreement between Liechtenstein and the United Kingdom has been signed. Now Liechtenstein has two Tax information exchange agreements (UK and USA) and two Double taxation agreements (Austria and Luxemburg)

New chances for Liechtenstein? A Memorandum of understanding between Liechtenstein and the UK offers interesting possibilities for clients who would like to be tax compliant in future. There is a 10 years period to pay old tax debts and a 10% penalty together with interests. There is the possibility of paying an overall tax of 40 % (covering all different sorts of taxes that might have been missed). A "Liechtenstein desk" has been opened.