Exchange of Information with Liechtenstein

Liechtenstein adopts the global standard for the automatic exchange of information

The new global standard for the automatic exchange of information on capital income (AIA) is increasingly being adopted. Liechtenstein was unable to withstand the international political pressure any longer and had to sacrifice its banking confidentiality.

1. What is happing at the moment?

Liechtenstein made the necessary preparations for participating in the new global automatic exchange of information (AIA). Liechtenstein will join the countries already implementing the new AIA standard. For this purpose, Liechtenstein has offered to negotiate with interested countries and the EU on the automatic exchange of information under this new global standard.

The government of Liechtenstein has significantly advanced the legislative procedure on 12.6.2015 by developing a so-called review report on an Act on the Automatic Exchange of Information in Taxation Matters (AIA-Act) The government intends to adopt the AIA-Act in 2015.

2. What is the timetable for Liechtenstein?

Liechtenstein will exchange information on foreign customers of its banks for the first time in 2017 and retrospectively for the year 2016, after entering into AIA treaties with foreign countries . It remains to be seen, whether Switzerland and Liechtenstein will coordinate the timetable, as is common practice in many legal issues.

Note: Investors who have not made a voluntary self-disclosure are recommended to obtain advice in this respect. Whether a voluntary self-disclosure is submitted remains the discretion of the affected taxpayer.