Germany Approves Liechtenstein TIEA
Monday, March 15, 2010
Germany’s Cabinet has recently approved a bill pertaining to the bilateral
tax information exchange agreement with Liechtenstein. According to a statement
from the German Finance Ministry, the agreement will now be incorporated into
On March 12, 2009, Liechtenstein recognized the Organization for Economic Cooperation
and Development’s (OECD) standard on transparency and effective information
exchange in tax matters. On September 2, 2009, in Vaduz, Germany’s ambassador
Axel Berg and Liechtenstein’s Prime Minister Klaus Tschütscher signed
a tax information exchange agreement (TIEA).
The TIEA contains the OECD standard, and provides that information will be
exchanged upon request. This will enable tax information to be exchanged not
only in cases of tax evasion, but also as part of standard assessment procedures, without
the need for the state concerned to present suspicion of a tax crime.