Liechtenstein is considering plans to make it more difficult for wealthy
foreigners to salt money away in the principality.
‘We will not give up bank secrecy,’ Otmar Hasler, the prime minister,
the FT. ‘But we are willing to collaborate with other nations when
it comes to the misuse of bank secrecy laws for tax evasion.’
The move could prove a major breakthrough for the OECD, which has been trying
to get tax havens to at least open up to information sharing with other
Details of the initiative are as yet unclear, but one measure being
considered was thought to be an offer to give governments information about
people with undeclared accounts provided they did not suffer excessive
penalties, the FT reported.
Under the scheme, account-holders would be told their details were to be made
available, giving them time to transfer their money elsewhere, the paper said.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy