Liechtenstein Addresses Tax Haven Status

Liechtenstein has agreed to address its tax haven status by adopting international standards on tax cooperation.

The Prime Minister and Ruling Prince have agreed to talks with other countries in an attempt to remove the distinction between tax fraud and tax evasion. Hereditary Prince Alois confirmed that this decision had been agreed to between the government, business leaders and the royal family. The princely House of Liechtenstein owns the LGT Group, Liechtenstein’s banking entity, which is the largest family-owned private wealth and asset manager in Europe.

Last year German intelligence agents accused LGT Group of tax evasion, an action which included accusations against Liechtenstein’s Prince Maximilian (as noted in this blog entry and this thread).

Filed under Liechtenstein
Tagged Finances, Government, Hereditary Prince Alois of Liechtenstein, LGT Group.