'Current events in Liechnstein' News and Current Events

Current events in Liechnstein

With the Group of 20 leading developed and emerging economies preparing for a meeting in early April to try to improve financial rules and restart growth, the issue has increasingly come into focus.

Already under increasing scrutiny for its role as a leading offshore tax haven, the country has promised to partly lift the veil of secrecy shrouding billions of dollars held there by wealthy American clients and corporations.

A tiny Alpine country by size, it will now in limited circumstances turn over to United States investigators the bank records of American clients suspected of tax evasion. The agreement also covers questionable uses of a tactic, known as transfer pricing, that is widely employed by multinational American corporations to lower their tax bills. In my own country the Revenue collection body encourages payment of tax by an adage that says, ‘Payment of Tax is your own responsibility.’. Borrow a leaf if you can!

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