Liechtenstein signs Double Taxation Agreement with Jersey

22 Jun 2018

On 8 June 2018 the Government of the Principality of Liechtenstein issued a press release stating that Liechtenstein has signed a Double Taxation Agreement (DTA) with Jersey. The DTA between Liechtenstein and Jersey shall in particular grant treaty access to asset structures, investment funds, pension funds and charitable organisations.

What it is about?

The DTA is based on the current international OECD standard. It takes into account the results of the OECD/G20 BEPS project, which is intended to prevent tax avoidance in a cross-border context. The exchange of information is regulated based on international standards, whereby the automatic exchange of information (AEOI) will be carried out in accordance with the framework of the Multilateral Competent Authority Agreement (MCAA). For the settlement of disputes leading to double taxation, the DTA shall contain a mutual agreement procedure and an option for an arbitration procedure.

What's next?

We assume that the new DTA with Jersey will be approved this year by the Parliament of the Principality of Liechtenstein, which would allow it to enter into effect as of 1 January 2019.

 

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