Germany slams Liechtenstein over fraud lethargy
Anti-fraud agreement needs Liechtenstein to get a move on
Liechtenstein has been castigated by the German finance minister for failing
to improve its financial transparency.
Peer Steinbreuck said negotiations between Europe and Liechtenstein over an
anti-fraud agreement needed to be restarted.
‘The state of negotiations we’ve reached so far with Liechtenstein is simply
not good enough,’ said Steinbreuck according to
Reuters.
High earners from Germany and other jurisdictions exploit tax loopholes to
dodge tax in places like Liechtenstein and others, which creates a huge threat
during tough economic times.
Germany launched a probe into its citizens holding Liechtenstein accounts
earlier in the year, provoking fury from the Liechtenstein authorities.
Further reading:
Taxman plans new offshore
amnesty
Liechtenstein
calls for compromise
