UK Liechtenstein Bank Account Tax Agreement
Published / Last Updated on 10/08/2009
UK Liechtenstein Bank Account Tax Agreement
The UK and Liechtenstein, a tax haven in the Alps, is expected to sign a bank account information sharing agreement today.
Liechtenstein, with one of the strongest anonymity banking regimes in the World, is to start sharing information on non-resident investors with the UK tax authorities as Governments across the World start to tackle the need to raise revenue amid the global downturn.
As usual, the UK tax authorities, HMRC, is expected to offer an amnesty to those who have anonymous accounts in places like Liechtenstein that have not previously disclosed them.
It is thought that from the UK alone, there may be as much as £5bn invested in Liechtenstein, in thousands of private accounts.
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