On 14 November 2013 Liechtenstein issued a Governmental Declaration on international tax co-operation / Legal certainty and clear prospects for the financial centre's clients
With this Government Declaration, Liechtenstein reaffirms its commitment to the applicable OECD standards of cooperation on tax matters. Liechtenstein furthermore defines its position with regard to future international standards of automatic information exchange and possible bilateral negotiations. Liechtenstein recognizes the legitimate tax claims of partner states. At the same time Liechtenstein protects the legitimate interests of its financial centre's clients, such as confidentiality and the right to privacy.
On 21 November 2013 Liechtenstein signed the OECD/Council of Europe Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which establishes standards for multilateral information exchange on tax. The same convention has also been signed by many other countries including Switzerland, Singapore and China. Liechtenstein is prepared to conclude bilateral agreements on automatic exchange of tax information based on the future OECD standards provided these agreements give due consideration to the legitimate interests involved with those partner countries that justify the requirements for this transparent approach.
Protection of the financial centre's clients' legitimate interests
The Liechtenstein Government believes that effective tax co-operation includes more than just information exchange. Liechtenstein is pursuing a comprehensive approach encompassing models to ensure past and future tax compliance as well as agreements to prevent double taxation and discrimination. This all centres on the longstanding relationship of trust with the financial centre's clients and their right to protection of personal data and to a proper process for determining their rights and obligations in tax matters. Liechtenstein is thus providing customers of its financial centre with greater legal certainty and clearer prospects. It is also strengthening its international position as a reliable and trustworthy wealth management centre.
Currently the view is that the automatic information exchange will be applicable to bank accounts of individuals, companies (with certain restrictions) but not to discretionary structures.
Benefits for the clients of the Jeeves Group
The strategy of the Jeeves Group is focused on sustainable solutions for their clients. In its March 2009 declaration, Liechtenstein clarified its position on privacy for clients and on banking secrecy. This was continued and specified with the Governmental Declaration of 14 November 2013. In this manner, legal certainty and predictable sustainability is enjoyed by our clients. This reinforces our long-standing strategy for our clients, based on a tax compliant succession plan.
Therefore the Jeeves Group and Liechtenstein have reassured their position as wealth management centre and remain ideal partners for clients wishing to invest and administer their assets long-term in a stable, secure and progressive political environment. Liechtenstein has become even more a prime jurisdiction for clients seeking legal privacy and protection of their legitimate interests.
Should you have any questions please contact us at
P.O. Box 48
T +423 236 14 60
F +423 236 14 61