Vaduz (ots) - The Liechtenstein Parliament today passed the Token and TT Service Provider Act (TVTG). This means that the law can enter into force on 1 January 2020. With the new law, Liechtenstein is the first country to have a comprehensive regulation of the token economy. On the one hand, the law regulates civil law issues in relation to client protection and asset ...
Vaduz (ots) - The Financial Stability Council (FSC) held its first meeting on 5 July 2019. The Financial Stability Council is the central body for macroprudential supervision in Liechtenstein and has been legally established in May 2019. The council's members are representatives of the Ministry for General Government Affairs and Finance and the Financial Market ...
Vaduz (ots) - Yesterday, the Liechtenstein parliament dealt with the Act on Tokens and TT Service Providers (TVTG) in its first reading. Entering into the first reading was undisputed and unanimously supported. Members of Parliament recognised the opportunities offered by this regulatory approach and at the same time addressed the risks. "The discussions were constructive and at a remarkable level. I would like to thank ...
Vaduz (ots) - On 7 May 2019, the Government adopted the Report and Motion on the creation of a Law on Tokens and Trustworthy Technology Service Providers (Token and TT Service Provider Act; TVTG), frequently referred to as the "Blockchain Act". Blockchain technology was initially developed for Bitcoin, a private digital monetary system. However, the technology can be used far beyond Bitcoin. Blockchain technology is ...
Vaduz (ots) - The EU Member States and the British Prime Minister agreed at the EU Council this week to postpone Brexit until at least 12 April 2019. If the British Parliament approves the withdrawal agreement this week, the UK will leave the EU in an orderly fashion on 22 May 2019. If Parliament rejects the deal again, the British Government will have to submit proposals for further action, otherwise the UK will leave ...
Vaduz (ots) - Liechtenstein complies with the international standards of the OECD on the exchange of information for tax purposes. The report by the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) finds that the legal framework and practice in Liechtenstein are to a large ...
Vaduz (ots) - The Government of the Principality of Liechtenstein is defining new measures to expand the competitiveness of the financial centre. Today, the Government published a comprehensive financial centre strategy, consistently pursuing the path it has embarked on. The financial centre strategy aims to strengthen Liechtenstein's attractiveness as an international and innovative financial centre for the long term. ...
Vaduz (ots) - With its decision of 2 October 2018 the EU Economic and Financial Affairs Council (ECOFIN) removed Liechtenstein from the so-called "Grey List". The EU thereby confirms that Liechtenstein complies with the EU criteria of tax transparency, fair business taxation and the implementation of the BEPS minimum standards. On 5 December 2017 the ECOFIN listed several countries and territories on the EU-list of ...
Vaduz (ots) - In its meeting of September 4th the Government adopted the Report and Motion on the notification of partner jurisdictions in accordance with Section 7(1)(f) of the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (MCAA). The Government proposes that the ...
Vaduz (ots) - In its meeting of 28 August 2018, the Government adopted the consultation report on the Law on Transaction Systems Based on Trustworthy Technologies (TT) (Blockchain Act; TT Act; VTG) and the amendment of further laws. A blockchain is a distributed database on which transactions or contracts are encrypted and stored in a tamper-proof manner. Blockchain technology not only forms the basis for cryptocurrencies ...
Vaduz (ots) - In its meeting of 7 June 2018, the Liechtenstein Parliament adopted amendments to the Tax Act. The amendments were based on the review of the Liechtenstein Tax Act by the EU Code of Conduct Group regarding tax transparency, fair business taxation, and the implementation of the minimum standards to prevent BEPS. Concerning Liechtenstein, the EU working group identified room for improvement in a few areas of ...
Vaduz (ots) - From 11 - 15 June 2018 Liechtenstein hosted members of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) for working meetings. The Global Forum is an international body with currently 150 members, including all OECD and G20 states. All the members of the Forum have undertaken to adhere to as well as to implement the global standards on transparency and exchange ...
Vaduz (ots) - David Moran, the British Ambassador to Liechtenstein, was paying a visit to Liechtenstein on 24 November 2017. After meeting with Prime Minister Adrian Hasler, Ambassador Moran gave a speech to representatives of business, politics and administration on the subject "Liechtenstein and the UK - a unique ...
Vaduz (ots) - From 30 October until 1 November 2017 talks were held in Beijing on a bilateral Double Taxation Agreement (DTA) between Liechtenstein and China. The delegations explained their respective domestic tax provisions and exchanged positions on the DTA article by article. It was agreed that both sides would update each other about relevant developments in the ...
Vaduz (ots) - On Sunday, Adrian Hasler took part in the opening of the Alpbach Political Symposium. Together with the president of the European Forum Alpbach, Franz Fischer, the Prime Minister invited several top-class guests. The guests included the Austrian Federal Minister Alexander van der Bellen, the President ...
Vaduz (ots) - The Government of Liechtenstein has taken note with deep regret of the decision of South Africa to withdraw from the Rome Statute of the International Criminal Court. South Africa was instrumental in the drafting of the Rome Statute and a symbol of human rights and justice on the African continent. Without its voice and contribution, the International Criminal Court could not have been established, and its ...
Vaduz (ots) - On 30 September 2016, the EEA Joint Committee, whose decisions result in the inclusion of new EU law in the EEA Agreement, decided to incorporate the first package of legal acts relating to the European Supervisory Authorities (ESAs). "This is a milestone for the competitiveness of our financial centre, since equal access to the EU single market has now ...
Vaduz (ots) - Italy has placed Liechtenstein on its domestic white list. The ministerial decree to this effect was adopted on 9 August 2016 and published on 22 August 2016. Pursuant to that decision, Italy deems Liechtenstein a cooperative state for tax purposes on the basis of the agreement with the EU on automatic exchange of information and exchange of information ...
Vaduz (ots) - The OECD and the G20 countries aim to take action against tax avoidance in multinational enterprises. They have developed measures against artificial profit shifting and tax base erosion (Base Erosion and Profit Shifting - BEPS). The goal of the BEPS Project is to support countries in protecting their tax base and at the same time to ensure that legal ...
Vaduz (ots) - On 27 January 2016, Liechtenstein signed a multilateral agreement on the automatic exchange of country-by-country reports. The agreement was developed within the framework of the Base Erosion and Profit Shifting (BEPS) Project by the G20 states and the OECD in the area of corporate taxation and is considered a new minimum standard. By signing the ...
Vaduz (ots) - Liechtenstein fulfils the international standards of the OECD on exchange of information for tax purposes. The report of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) finds that the legal framework and practical implementation in Liechtenstein largely ...
Vaduz (ots) - Aurelia Frick, Liechtenstein's Minister for Foreign Affairs and Pierre Gramegna, Minister of Finance of Luxembourg, as representative of the EU Presidency and Commissioner Pierre Moscovici on behalf of the EU Commission in Strasbourg today signed an Agreement on Automatic Exchange of Financial Account Information. Liechtenstein and the EU Member States ...
Vaduz (ots) - The Liechtenstein Government and the British Tax Authority Her Majesty'sRevenue and Customs (HMRC) have published another Joint Declaration to the Memorandum of Understanding of 2009 and the Liechtenstein Disclosure Facility (LDF). The Fifth Joint Declaration recognises the continuing success of the ...
Vaduz (ots) - Liechtenstein decisively rejects the reproach that it is failing to cooperate with the EU in tax matters, and refers to the already-existing close cooperation with the EU in tax matters as well as its commitment to applicable international standards. In view of the already well-advanced status of the negotiations and discussions with the EU concerning ...
Vaduz (ots) - On 24 March 2015, the Government adopted its Government Bill on 20 years of membership of the Principality of Liechtenstein in the European Economic Area (EEA). With this Government Bill, the Government aims to provide comprehensive information to Parliament and the Liechtenstein public on the ...
Vaduz (ots) - On 1 May 2015, Liechtenstein will look back on 20 years of membership in the European Economic Area (EEA). For this occasion, the Government commissioned a representative survey among Liechtenstein voters for the first time in November 2014. The survey was prepared by the Liechtenstein Institute in cooperation with the EEA Coordination Unit, the Ministry ...
Vaduz (ots) - In its meeting of 15 May 2012, the Government passed the report and motion to the Liechtenstein Parliament for the creation of the Gesetz über die Verwalter alternativer Investmentfonds (AIFMG, Act on Alternative Investment Fund Managers) and for the amendment of other laws. The AIFMG puts Directive ...
Vaduz, Liechtenstein (ots) - Establishment of diplomatic relations and agreement on declaration and joint co-operation memorandum - Shared goal is closer relationship based upon constructive partnership as well as foreign policy co-operation - Historical Commission to examine joint history as well as the relationship between the two countries during the 20th ...
Vaduz (ots) - On 11 September, some media cited a June 2008 letter by H.S.H. the Reigning Prince of Liechtenstein declining participation in the exhibition "Looting and Restitution" at the Jewish Museum Berlin. With his private and personal letter to the Director of the Museum, W. Michael Blumenthal, Reigning Prince Hans-Adam II in no way intended to belittle the atrocious events of the Third Reich. Rather, the ...
Vaduz (ots) - The revision of the law governing Liechtenstein foundations was adopted by Parliament on 26 June 2008 and - now that the referendum period has expired without a referendum being called (31 July 2008) - will enter into force on 1 April 2009. Official publication in the national newspapers is on 26 August 2008. From that date on, the text of the ...