 |
|
|
 |
|
|
|
|
New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
| |
| 29/07 New
Lowtax Editor Column, by Kitty Miv |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu
, Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 19/07 Expats
Turn Backs On US Taxes, Tax-News.com |
| 16/07
Congress Approves US Financial Reform Bill, Tax-News.com |
| 15/07 New
Lowtax Editor Column, by Kitty Miv |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-News.com
Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
| 09/07
Antigua Pursuing Trade Sanctions Against US, Tax-News.com |
| 08/07 New
Lowtax Editor Column, by Kitty Miv |
|
06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 05/07
Australian Mining Tax Agreement Reached, Tax-News.com |
| 02/07 Online
Trading For Expats, Investors Offshore special feature |
| 29/06 EC
To Extend Common System Of VAT, Tax-News.com |
| 28/06
Lowtax Dubai, annual update |
| 25/06 Jersey
Considers Tax Future, Tax-News.com |
| 22/06 VAT
Hiked In UK Emergency Budget, Tax-News.com |
| 21/06 Steady
Progress In TPP Negotiations, Tax-News.com |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
| 14/06 Ethical
Moonshine, Penelope Wise blog entry |
| 11/06 Germany
Purchases Stolen Tax Data Disc, Tax-News.com |
|
08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 07/06 G-20
Shelves Global Bank Tax, Tax-News.com |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 31/05
OECD And EU Strengthen Tax Cooperation, Tax-News.com |
| 28/05
Lowtax Guernsey, annual update |
| 25/05
Lowtax Jersey, annual update |
| 24/05 Lithuania
Summary PBTG Guide, added to Personal Business Tax Guide |
| 21/05
Lowtax Liechtenstein, annual update |
| 18/05 Latvia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 17/05 Offshore
And The Euro, Jeremy Hetherington-Gore blog entry |
| 14/05 IO
Focus: Barbados, Investors Offshore special feature |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
 |
| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
| |
|
| |
| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| |
|
|
| Liechtenstein Creates Legal Basis For Administrative Assistance In Tax Matters |
by Ulrika Lomas, Tax-News.com, Brussels
Friday, December 18, 2009
The Liechtenstein government has adopted a consultation report
for the Law on Administrative Assistance in Tax Matters. The law creates the legal
basis for implementation of agreements providing for information exchange in tax
matters.
"With [this law], we have achieved
another milestone in our consistent and rapid implementation of the international
OECD standards," announced Prime Minister Klaus Tschütscher. "The law offers financial center clients, financial intermediaries,
and our international treaty partners a clear legal framework for information
exchange and accordingly for legal certainty."
Since Liechtenstein’s decision earlier in the year to adopt the OECD
standards on tax cooperation, Liechtenstein has concluded numerous tax information
exchange agreements (TIEAs) and double taxation agreements. These include
TIEAs signed with Germany, France, the Netherlands, and Ireland, due to enter
into force for the 2010 tax year.
Based on the OECD standards, the draft law provides for information exchange
on the basis of detailed requests in individual cases within the framework of
applicable agreements. For this purpose, the request must precisely identify
the taxpayer affected by the information exchange and present the underlying
fact pattern. The law thus rules out automatic information exchange or so-called
"fishing expeditions."
Regarding the implementation of the TIEA concluded with the United States,
the law establishes an efficient and rapid administrative assistance procedure,
which offers the necessary legal protection for the affected persons as well
as judicial review.
Given the unique nature of the agreement concluded with the United Kingdom
on August 11, 2009, which provides for special arrangements until
2015, Liechtenstein has adopted a separate draft law.
The agreement with the UK provides for the creation of a Liechtenstein Disclosure
Facility (LDF), administered by Her Majesty's Revenue and Customs (HMRC). As
part of a taxpayer assistance and compliance program, Liechtenstein ensures
that clients of the financial center taxable in the UK honor their tax obligations.
According to the government, the draft law stipulates the implementation rules
for the compliance program. The UK TIEA Act and the rules for the compliance
program contained therein do not provide for exchange of UK client data to
HMRC beyond the OECD standard.
Information exchange upon request is governed solely by the general Administrative
Assistance Act. The UK TIEA Act contains additional grounds for declining
requests prior to April 1, 2015, which, for the purpose of protecting clients,
provide for administrative assistance only in a few exceptional cases for the
duration of the program.
Once the consultation period has elapsed on February 5, 2010, both laws will
be presented to parliament for their first reading in April.
.
|
|
 |
|
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
LAWANDTAX-NEWS.COM
