Open

Coming up

Don't miss

Replay


LATEST SHOWS

FOCUS

Spain's El Hierro to become world's first self-powered island

Read more

IN THE PAPERS

A bellwether for what not to do

Read more

ENCORE!

Luc Besson back in action with Scarlett Johansson in 'Lucy'

Read more

FOCUS

Israel's minorities and military service

Read more

MIDDLE EAST MATTERS

Iraq: Kurdish forces fight to protect Yazidis

Read more

DEBATE

Libya unrest: National Assembly asks for UN help to dissolve militias

Read more

DEBATE

Pakistan's Political Turmoil: Can Imran Khan's PTI Party Depose the Government? (part 2)

Read more

DEBATE

Pakistan's Political Turmoil: Can Imran Khan's PTI Party Depose the Government?

Read more

MEDIAWATCH

#IceBucketChallenge and hashtag activism

Read more

  • Ex-PM Juppé announces bid for 2017 French presidential race

    Read more

  • Brutal IS beheading video sparks social media pushback

    Read more

  • A new view on Normandy landings, 70 years on

    Read more

  • Video: Dozens arrested despite smaller protests in Ferguson

    Read more

  • Dozens killed as landslides strike Japan’s Hiroshima

    Read more

  • Deadly airstrikes hit Gaza as ceasefire with Israel collapses

    Read more

  • Tentative peace in Ferguson despite second fatal shooting

    Read more

  • Suspected Ebola cases in Austria, new drug raises hopes

    Read more

  • WWII anniversary highlights best - and worst - of Paris police

    Read more

  • Headscarf at the beach sparks French MEP’s fury

    Read more

  • Iraqi army clashes with militants in Tikrit after retaking key dam

    Read more

  • Video: Life in under-siege Donetsk

    Read more

  • Racism, riots and police violence: USA under scrutiny

    Read more

  • ‘Let it be’: Londoners sick of Abbey Road tourists

    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)