Liechtenstein is the latest signatory to OECD’s Convention on Mutual Administrative Assistance in Tax Matters, signalling its commitment to tackle tax evasion in the jurisdiction by agreeing to the automatic exchange of financial tax information
Under the terms of the convention, Liechtenstein will now implement the standard for automatic exchange of financial account information in tax matters developed by the OECD and G20 countries, as well as automatic exchange of country-by-country reports under the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project.
The convention will enter into force for Liechtenstein on 1 December 2016.
The first reporting perid for exchanges of financial account information will start in 2017.
