| Liechtenstein PM outlines tax reform |
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| Thursday, 13 March 2008 | |
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Prime Minister Otmar Hasler has presented the parameters for a revision of Liechtenstein tax law.
He said that the goal of the reform was taxation of citizens that was as transparent and simple as possible. “The income earned on the markets should be taxed only once over the course of the life cycle, and natural and legal persons should be treated equally wherever possible,” the Prime Minister said. Hasler added that the Liechtenstein tax system will be updated in accordance with the most recent insights of international tax research, taking into account the changed economic and legal environments in Liechtenstein and abroad. In addition to competitiveness and performance, the tax reform will pay particular attention to constitutional and European conformity. The PM said that tax policy and the tax climate had become more political than ever in Europe, whose national borders were now increasingly porous. “Over the last few years and months, many countries within and beyond Europe have carried out tax reforms, including a reduction of their tax rates. This has shown in practice how important a prudent tax policy has become in the competition among business locations,” Hasler said. The Organisation for Economic Cooperation and Development's (OECD) blacklisted Liechtenstein in 1999 as an uncooperative tax haven, alongside Andorra and Monaco. A number of European finance ministers recently agreed on actions to reduce tax evasion via tax havens. Liechtenstein’s police force issued an international arrest warrant on Wednesday for Heinrich Kieber, the man suspected of selling confidential data on foreigners using the tax haven for tax evasion purposes. Related articles
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