Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Search of Air Algerie crash site continues

Read more

MEDIAWATCH

Sarkozy, Hollande and the scooter wars

Read more

MEDIAWATCH

Confusion online over Air Algérie flight

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014

Read more

REPORTERS

Halal tourism on the rise

Read more

ENCORE!

Tunisia's Carthage International Festival turns 50

Read more

FRANCE IN FOCUS

WWI Centenary: the battle for Verdun

Read more

THE BUSINESS INTERVIEW

When big companies want to do good

Read more

  • In pictures: Debris and devastation at Air Algérie Flight AH5017 crash scene

    Read more

  • Video: No investigation apparent at MH17 crash site

    Read more

  • Kerry due in Paris for new round of Gaza ceasefire talks

    Read more

  • Washington Post reporter and his wife arrested in Iran

    Read more

  • French families grieve for Algerian plane crash victims

    Read more

  • Paris bans new Gaza protest scheduled for Saturday

    Read more

  • Fans electrify the mood as Tour de France crosses the Pyrenees

    Read more

  • LA Times wipes France off the map in air crash infographic

    Read more

  • Lithuania’s Navardauskas wins 19th stage of Tour de France

    Read more

  • French lawyer files complaint against Israel at ICC

    Read more

  • Protest against Gaza offensive turns deadly in West Bank

    Read more

  • Halal tourism on the rise

    Read more

  • Ukraine names acting PM after Yatseniuk's shock resignation

    Read more

  • BNP to pay $80 million for defrauding Dept of Agriculture

    Read more

  • Deadly strike on UN shelter in Gaza Strip

    Read more

  • Pope meets Christian woman sentenced to death in Sudan

    Read more

Europe

New treaty will adopt OECD rules on tax reporting

Latest update : 2009-05-23

Luxembourg and Liechtenstein announced plans on Friday to conclude a treaty in line with the Organisation for Economic Cooperation and Development's rules on tax reporting. Both powers are under pressure to revise their laws on banking secrecy.

AFP - Liechtenstein and Luxembourg, which have both been criticised by world powers for their banking secrecy, are planning a tax treaty to fall into line with OECD rules, Liechtenstein said Friday
   
The Organisation for Economic Cooperation and Development (OECD) last month put Luxembourg and Liechtenstein on a list of territories it said had not yet fully implemented international tax reporting norms.
   
One of the requirements relates to the number of bilateral agreements a country has signed with other countries to exchange banking information for taxation purposes.
   
"With this step towards an OECD-compliant double taxation agreement, we are showing that we (can) move fast in implementing the commitments we have entered into," said Liechtenstein Prime Minister Klaus Tschuetscher during a visit to his Luxembourg counterpart Jean-Claude Juncker.
   
Tschuetscher said in a statement he was confident that similar dual taxation treaties would be possible with other European Union countries.
   
The government decided on March 12 to ease the country's legendary banking secrecy and to adopt OECD tax standards after pressure during a crackdown the Group of 20 leading economies against tax evasion in recent months.
 

Date created : 2009-05-23

COMMENT(S)