Liechtenstein reveals the weakness of the current European Savings Tax Directive
July 8th, 2011
Liechtenstein has just announced the latest sums it has collected under the terms of the European Savings Tax Directive. It was a measly €7.8 million.
Working backwards this is 20% tax on €40 million interest. Assuming 2% interest, this is tax on interest income on € 2 billion capital (which may seriously overstate the case: German bonds paying over 3% p.a.).
Liechtenstein banks have € 140 billion assets under management.
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Liechtenstein Structures Will Be Within European Union Savings Tax Directive
April 25th, 2011
The following is for all serious offshore aficionados. It comes form the person I think the foremost expert on the European Union Savings Tax Directive - Mark Morris, and is from his blog, with permission.
What it says is at the end of the day simple, but vitally important, and that is that iof the European Union Savings Tax Directive is amended as the EU desires then Liechtenstein's secrecy is cracked open. Which is very welcome indeed. Over to Mark:
"Liechtenstein is home to nearly 100,000 entities and legal arrangements which are effectively untaxed. These structure are used for succession planning, creditor protection, family support...
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German Tax Evasion Resurfaces With Report of Liechtenstein Bank-Disk Offer
July 22nd, 2010
Bloomberg--The German government may be about to step up its pursuit of tax evaders amid reports that a new CD containing stolen bank data has been offered for sale to state authorities.
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Tax havens: out of sight, out of mind
September 8th, 2009
At the root of the public fascination with the fate of Michael Bryant is a question that lies at the heart of democracy: Do the rich and powerful get special treatment?
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