Liechtenstein

Liechtenstein’s legal framework implementing the AEOI Standard is in place and is consistent with the requirements of the AEOI Terms of Reference. This includes Liechtenstein’s domestic legislative framework requiring Reporting Financial Institutions to conduct the due diligence and reporting procedures (CR1) and its international legal framework to exchange the information with all of Liechtenstein’s Interested Appropriate Partners (CR2).

First reporting fiscal year: Commencing on or after 1 January 2017. Liechtenstein also allowed MNE Groups to file a CbC report on a voluntary basis, for reporting fiscal years commencing between 1 January 2016 and 31 December 2016.

Liechtenstein has 20 tax agreements in force, as reported in its response to the Peer Review questionnaire. Five of those agreements, the agreements with Austria, Iceland, Jersey, Lithuania and Monaco, comply with the minimum standard.

Le Liechtenstein compte 20 conventions fiscales en vigueur, comme l’indique sa réponse au questionnaire d’examen par les pairs. Cinq de ces conventions, celles conclues avec l’Autriche, l’Islande Jersey, la Lituanie et Monaco, sont conformes au standard minimum.

Liechtenstein can legally issue the following four types of rulings within the scope of the transparency framework: (i) cross-border unilateral APAs and any other cross-border unilateral tax rulings (such as an advance tax ruling) covering transfer pricing or the application of transfer pricing principles; (ii) rulings providing for unilateral downward adjustments; (iii) permanent establishment rulings; and (iv) related party conduit rulings.

Overall determination on the legal framework: In Place But Needs Improvement

Liechtenstein was reviewed as part of the 2017/2018 and the 2018/2019 peer reviews. This report is supplementary to those previous reports (OECD, 2019[1]) (OECD, 2018[2]).

Liechtenstein has 19 tax agreements in force, as reported in its response to the Peer Review questionnaire. Four of those agreements, the agreements with Austria, Iceland, Jersey and Monaco, comply with the minimum standard.

Le Liechtenstein compte 19 conventions fiscales en vigueur, comme l’indique sa réponse au questionnaire d’examen par les pairs. Quatre de ces conventions, celles conclues avec l’Autriche, l’Islande Jersey et Monaco, sont conformes au standard minimum.

This peer review covers Liechtenstein’s implementation of the BEPS Action 5 transparency framework for the year 2018. The report has four parts, each relating to a key part of the ToR. Each part is discussed in turn. A summary of recommendations is included at the end of this report.

Liechtenstein was first reviewed during the 2017/2018 peer review. This report is supplementary to Liechtenstein’s 2017/2018 peer review report (OECD, 2018[1]). The first filing obligation for a CbC report in Liechtenstein applies to reporting fiscal years commencing on or after 1 January 2017. Liechtenstein also allows its MNE groups to file a CbC report on a voluntary basis, for reporting fiscal years beginning between 1 January 2016 and 31 December 2016 (i.e. “parent surrogate filing”).

1. Consistent with the agreed methodology this first annual peer review covers: (i) the domestic legal and administrative framework, (ii) certain aspects of the exchange of information framework as well as (iii) certain aspects of the confidentiality and appropriate use of CbC reports. Liechtenstein’s implementation of the Action 13 minimum standard meets all applicable terms of reference in relation to its domestic legal and administrative framework. The report, therefore, contains no recommendations.

1997: Decree on the Mandatory Occupational Provision for Unemployed Persons; provides for disability and survivor insurance of unemployed persons.