Liechtenstein: Personal Taxation
The net worth tax under the old Tax Act (that is, prior to 2011) was applied to the net assets of the taxpayer. Assets comprised real estate, securities, cash, deposits, valuables etc etc. Liabilities were deducted (eg mortgages, loans). Assets and liabilities were taken in at fair market value.
The first CHF70,000 of a single taxpayer's net assets were disregarded (CHF140,000 for a married couple); the balance was taxed on a sliding scale, reaching a maximum marginal rate of about 0.9% (depending on commune) at a taxable net wealth of about SFr 350,000.
The new Tax Act 2010 (that is, from January 2011) provides for the inclusion of all securities, cash, deposits, valuables etc in the ordinary income of individuals. Motor vehicles for private use up to CHF25,000 are exempted from inclusion, as are works of art made available for public viewings. Tools and farm equipment necessary for the production of income are exempt up to a maximum value of CHF2,000. Also exempted are real estate and business premises located outside of Liechtenstein.