LIECHTENSTEIN has
raitfied the Convention on Mutual Administrative Assistance in Tax Matters.
Liechtenstein yesterday deposited its instrument of ratification for the
Convention on Mutual Administrative Assistance in Tax Matters ("the
Convention").
By doing so, Liechtenstein underlines its commitment to fighting tax evasion
and avoidance and takes another important step in implementing 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.
Liechtenstein committed to implement automatic exchange of financial account
information in time to commence exchanges in 2017 and was amongst the first
signatories of the CRS Multilateral Competent Authority Agreement (the "CRS MCAA")
and the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country
Reports (the "CbC MCAA"), which are both based on Article 6 of
the Convention.
|