Liechtenstein on charm offensive

Liechtenstein on charm offensive

Principality at heart of German probe launched marketing efforts to dispel negative ideas about its tax and legal structure.

Liechtenstein is to go on a charm offensive in neighbouring countries to
dispel notions that it is a harmful tax haven.

The government of the principality is introducing a new law relating to
‘foundations’, a kind of company structure, and is planning a marketing campaign
this Autumn in Austria, Germany and Switzerland ahead of the law’s introduction
in 2009,
tax-news.com
reported
.

The moves are part of attempts to shore up Liechtenstein’s reputation
following revelations that hundreds of wealthy Germans were alleged to have been
salting money away and evading tax through the principality.

‘The government is aware that Liechtenstein’s image abroad continues to be
tainted by false information and prejudice, despite Liechtenstein’s great
efforts in this regard,’ the government said in its announcement.

It now plans to launch an initiative to counter the accusations: ‘clichés
concerning the Liechtenstein financial centre and false impressions of
journalists will be corrected through matter-of-fact communication work,’ it
said.

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