The Global Forum on Transparency and Exchange of Information for Tax Purposes recently rated Liechtenstein as “largely compliant” with the Organisation for Economic Cooperation and Development (OECD) standards on tax transparency.
Liechtenstein’s Prime Minister, Adrian Hasler, has welcomed recognition from the international community for its efforts to improve tax transparency. He commented that the rating is a huge success for Liechtenstein’s overall financial strategy and an important milestone in the positive development of the country’s financial and economic centre.
According to a Government statement, the Global Forum reviewed the information required by international standards on economic beneficiaries in companies and other legal units, as well as accounting records and banking details and certified Liechtenstein to be compliant. In addition, Liechtenstein was also well rated in terms of exchange of information with treaty partners in practice.
Source: Ulrika Lomas, Tax-News.com 5/11/2015
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