Financial Regulatory Forum

Liechtenstein may sign other tax deals – paper

February 5, 2010
Crown Prince Alois sees further deals

Crown Prince Alois sees further deals

   ZURICH, Feb 5 (Reuters) – Liechtenstein may negotiate agreements with countries similar to the one it has with Britain, Crown Prince Alois was quoted as saying in a Swiss newspaper on Friday.
   The prince also said implementing a withholding tax could be part of a more comprehensive solution to tax evasion.
   “I assume that we’ll be talking to other interested states,” he told the Neue Zuercher Zeitung.
   “Such a tax is possibly an attractive element of a comprehensive solution. But I don’t think a withholding tax will solve the problem of tax evasion. We’ve proposed the idea to Britain and the United States, but neither country seemed to be interested.”
   Liechtenstein and Britain in August announced an agreement to encourage British clients with secret accounts in the Alpine principality to voluntarily disclose billions of pounds of untaxed money. [ID:nLB642083]
   The Liechtenstein government said the deal provided special conditions between 2010 and 2015 to encourage clients with British tax arrears to declare themselves. It applies to existing clients as well as new clients.
   Prinz Alois said in the newspaper interview that pursuant to the British agreement, there would be no automatic exchange of information between authorities. (Reporting by Catherine Bosley, editing by Mike Peacock) ((Zurich newsroom +41 58 306 7336, fax 41 44 251 0476, zurich.newsroom@news.reuters.com))
 Keywords: SWISS LIECHTENSTEIN/ALOIS
  
Friday, 05 February 2010 08:39:34RTRS [nLDE6140GW] {C}ENDS

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