Liechtenstein looks to lure UK wealthy to use its amnesty
Prince Max encourages UK citizens with undeclared tax liabilities abroad to funnel the money through the principality - and take advantage of its tax amnesty
Liechtenstein’s royalty is encouraging the wealthy to put their funds into
the principality so they can take advantage of its tax amnesty deal with the UK.
Prince Max said that British citizens from Switzerland, the Far East and the
Channel Islands were the most likely to move their funds, reported the
FT.
The basic premise of the Liechtenstein deal is that penalties are capped at
10% of the unpaid tax plus interest going back ten years.
Further reading:
Hartnett
targets Swiss accounts in fight against tax evasion