Disclosure of cross-border tax planning arrangements
According to the OECD, the lack of comprehensive and relevant disclosure about potentially aggressive or abusive tax planning strategies is one of the major challenges facing tax authorities. In this context, the EU, with the amendment to the EU Mutual Assistance Directive (Directive 2011 / 16 / EU – “DAC 6”) which came into effect on 25 June 2018, has introduced a disclosure requirement for cross-border tax arrangements directed at EU intermediaries (especially fiduciaries, lawyers, tax advisers and banks).
Plans for a digital tax
In October 2019, the OECD presented plans for taxing large industrial corporations not only where they are headquartered, but also where their customers or users are resident and the corporations generate profits. However, it is as yet unclear to what extent these plans will become more concrete and be implemented.
International cooperation on tax topics
Since the beginning of 2016, Liechtenstein has implemented the automatic exchange of information with 28 countries. The FATCA agreement with the USA was concluded as early as 2014. Liechtenstein has signed bilateral tax agreements with 55 jurisdictions and has a nationally and internationally attractive tax system that complies with the requirements of European law and takes account of international developments.