Tax Information Exchange Agreement – Agreement between the UK and Liechtenstein signed

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A new Tax Information Exchange Agreement (TIEA) between the UK and Liechtenstein was signed in Vaduz, Liechtenstein, on 11 August 2009. The Agreement will enter into force as soon as both governments have completed their domestic legislative procedures needed to give it effect.

Along with this announcement, the two countries announced the introduction of the Liechtenstein Disclosure Facility (LDF), a bespoke service to support the reviews to be carried out by the Financial Intermediaries in Liechtenstein to identify those who may have liability to UK tax. The LDF allows people with unpaid tax linked to investments or assets in Liechtenstein to settle their UK tax liability under this special arrangement. The LDF will run from 1 September 2009 until 31 March 2015.

Discussion will also proceed between the two countries over the next year with a view to introducing a comprehensive double taxation convention.

Further information:
Liechtenstein: Tax Information Exchange Arrangement
Offshore – Liechtenstein Disclosure Facility
Historic Tax Agreements with Liechtenstein

This entry was posted on Wednesday, August 19th, 2009 at 05:00 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.