Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive (part 2)

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive

Read more

FOCUS

Ireland's missing babies casting light on a dark history...

Read more

WEB NEWS

World Cup 2014: Germany-Brazil inspires the Web

Read more

THE INTERVIEW

Boutros-Ghali: 'I wanted to reform the UN'

Read more

IN THE PAPERS

57 000 little problems

Read more

IN THE PAPERS

The Sarkozy 'threat'

Read more

BUSINESS DAILY

Budget challenge for India's new government

Read more

DEBATE

Africa's Newest Failed State: How to Stop Civil War and Famine in South Sudan? (part 2)

Read more

  • French companies will have to accept anonymous CVs

    Read more

  • Germany asks US intelligence station chief to leave country

    Read more

  • Death toll rises in Gaza as militants target Israeli cities

    Read more

  • Video: Muslims in China confront obstacles to Ramadan fasting

    Read more

  • Tour de France passes WWI Chemin des Dames battlefield

    Read more

  • Senegalese man awarded French visa in gay marriage debate

    Read more

  • Israel steps up airstrikes as diplomacy gets under way

    Read more

  • Argentina beat Netherlands on penalties to reach World Cup final

    Read more

  • Foiled French jihadist ‘targeted Louvre and Eiffel Tower’

    Read more

  • Obama in Texas to urge congressional action on child migrant crisis

    Read more

  • Iraq’s heritage 'in danger' from ISIS militants

    Read more

  • Froome crashes out of Tour de France

    Read more

  • South Sudan independence heroes ‘have lost their way’

    Read more

  • 100 years on, the Tour de France returns to the Western Front

    Read more

  • Dozens of blindfolded bodies found south of Baghdad

    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

Comments

COMMENT(S)