Sunday, 22nd November 2009

 

15 August 2008 - Press Briefing

Liechtenstein to unveil tougher laws on tax evasion

Liechtenstein will on Friday reveal tougher laws making it harder for wealthy foreigners to hide money in its banks, according to a report in the Financial Times.

Otmar Hasler, the prime minister, was quoted as saying in the FT report: “We will not give up bank secrecy. But we are willing to collaborate with other nations when it comes to the misuse of bank secrecy laws for tax evasion.”

One of the potential measures being discussed includes giving governments information about people with undeclared accounts provided they did not suffer excessive penalties.

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