TaxWorldWeb – International Tax News

Most Recent

Under the agreement that created the Liechtenstein Disclosure Facility, Liechtenstein banks must contact customers to see if they have links to the UK by October this year. Their customers must either declare themselves to be UK tax compliant or they must join the LDF – which offers low penalties and immunity to prosecution for undisclosed liabilities – within 18 months of the initial contact. If they fail to do so, the Liechtenstein banks must refuse to keep their custom under the terms of the agreement.