Tax Information Exchange Agreement (TIEA) And The Related Memorandum Of Understanding (MoU) Concluded Between The United Kingdom And Liechtenstein On 11 August 2009.
Mondaq Business Briefing › Nbr. 2009, January 2009
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Tax Information Exchange Agreement (TIEA) And The Related Memorandum Of Understanding (MoU) Concluded Between The United Kingdom And Liechtenstein On 11 August 2009.
Notes on important developments
Contrary to Switzerland where the Swiss Financial Market Authority (FMA) transferred client data on the basis of "fishing expeditions" (John Doe-summons - UBS case), Liechtenstein has never done this without court order, and only on the basis of sufficient case-by-case specification. The Swiss Federal Court of Administration requalified – in addition to that - tax evasion into tax fraud simply because the beneficial owners of offshore companies kept further control of the companies' bank accounts in disregar...See the full content of this document
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