Liechtenstein has a “long way” to go to shed its image as a tax haven as the principality bids to forge an accord with Germany, according to a bank official.
The Alpine state is negotiating a tax agreement with German authorities that will echo an accord signed in September by Switzerland and Germany, Liechtenstein Bankers Association Director Simon Tribelhorn said today. Under that deal, revenue from a withholding tax on interest, dividends and capital gains earned by Germans with offshore Swiss accounts goes to the German treasury while client identities remain secret.
Both Liechtenstein and Switzerland agreed in March 2009 to meet international standards to avoid being blacklisted as a tax haven by the Organization for Economic Cooperation and Development.
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