Liechtenstein to cooperate
05/09/2008
With its reputation tarnished by the German tax scandal that broke earlier this year, Liechtenstein's Prince Alois has announced the Alpine jurisdiction's willingness to cooperate with other countries in tax matters, although banking secrecy is to remain non-negotiable.
But, despite the ongoing campaign by onshore governments to crack open the veil of banking secrecy in jurisdictions such as Liechtenstein and Switzerland, Prince Alois affirmed that his government would continue to guarantee a high level of confidentiality to its banking clients.
With respect to information exchange, the Reigning Prince believes that Liechtenstein is going about as far as Switzerland or Luxembourg in its negotiations. However, he maintained that Liechtenstein would always remain a refuge for the world's over-taxed.
