Changes in the tax legislation of Liechtenstein

26.09.2012  The Government of Liechtenstein during the last session adopted the consulting report on changing of the tax laws. This report is directed at increasing of tax inflows into the state treasury.

 It is intended to change the tax rates on wealth and income tax so that the current low and medium rates comply with the current tax burden. Moreover, it is possible that an additional rate of tax will be introduced – 8%.

 In the report the idea of increasing of the minimal tax size of corporate income tax is also introduced (up to 1800 Swiss francs). Today it equals 1200 Swiss francs.

On the basis:

http://www.liechtenstein.li/index.php?id=5

Expert’s opinion

Many people heard of Liechtenstein. Some associate it with the ski resort. Some people hearing of Liechtenstein imagine a little country in the mountain valley which can be overviewed by the one look. Somebody remember of the fact that Liechtenstein is the European financial center.

But there are not so many persons who know that Liechtenstein doesn’t have its own currency.

The Swiss franc circulates in Liechtenstein.

Swiss besides the Monetary and Customs Union with Liechtenstein rules the external policy of the Principality.

In addition, it deals with the matters of defense. Analogically the Vatican!

In such “tight embraces” of the neighboring Confederation Liechtenstein is unable to remain unchanged.

And the proud Principality fluctuates with the “general line” of the elder sister – Swiss. There as we know significant changes are made in the sphere of the bank secrecy, data exchange, tax policy.

Changes which are probably coming will not seriously influence the popularity of companies, foundations, trusts and anstalts used in the international tax planning and the sphere of Asset Protection.

Though the cost of services will slightly increase that is already considerable.

Yaroslav Lomakin ( Managing partner Company Honest & Bright)