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Liechtenstein Legislates For New Tax Amnesty Conditions

by Ulrika Lomas, Lowtax.net, Brussels
08 May, 2014

A new voluntary tax declaration procedure has being introduced in Liechtenstein through the publication of a March law in the nation's official journal (Liechtensteinisches Landesgesetzblatt LGBI 2014 number 108) on April 29, 2014.

Article 142 of the law of March 14, 2014, provides that taxpayers who voluntarily file a first statement of non-tax compliance will be granted immunity from criminal prosecution but will be required to pay tax arrears and late payment interest covering any previously undeclared amounts covering the past five years. Meanwhile, the same article imposes a fine of 20 percent on the sum of evaded tax for declarations other than a first declaration, in addition to late payment interest, and tax arrears.

As a transitional measure, Article 156 allows taxpayers reporting undeclared assets and inheritances for the first time between January 1 and December 31, 2014, to pay tax at a flat rate of 2.5 percent, together with a municipal tax surcharge on all undeclared assets, and under a simplified procedure.

The new law entered into force with retroactive effect from January 1, 2014. The legislation amends the Principality's federal and municipal tax law of September 23, 2010.


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