Germany And Liechtenstein Sign Tax Information Exchange Agreement

04.09.2009


Liechtenstein and Germany have signed an agreement on cooperation and information exchange on tax matters after initialing the document in July 2009.

The text of the treaty follows the OECD Model Convention and provides for information exchange upon request. The agreement will come into force once the ratification process has been concluded, and will be effective for the 2010 tax year onwards.

"The agreement signed today is good for our relations and for the first time offers a procedure governed by the rule of law for cross-border cooperation on tax matters between our two countries," announced Liechtenstein's Prime Minister Klaus Tschütscher, continuing:

"Like the agreement already concluded with the United States in December 2008, the agreement signed today provides legal certainty for citizens and a stable set of rules for the financial centre."

The agreement, although comprehensive, did not include the same special conditions offered in the UK accord, which was signed in August 2009.

Germany and Liechtenstein have agreed to continue talks on closer cooperation, with a view to concluding a double taxation agreement in the near future. Talks in this regard have already begun.

"The next step is now to conclude an agreement eliminating double taxation, which is detrimental to our economic relations," the Liechtenstein Prime Minister revealed.

 

Quelle: Tax-News.com