The Organisation for Economic Cooperation and Development (OECD) today announced that Liechtenstein has filed its instrument of ratification of agreements providing for the automatic exchange of financial account information in tax matters—under the common reporting standard (CRS)—and of country-by-country (CbC) reports under the base erosion and profit shifting (BEPS) project.
The subjects of the agreements are the CRS multilateral competent authority agreement and the multilateral competent authority agreement on the exchange of CbC reports.
As noted in today’s OECD release, Liechtenstein has committed to implement the automatic exchange of financial account information so that such automatic exchanges will begin in 2017. Liechtenstein has already agreed with the European Union regarding all EU Member States (excluding Austria) to exchange data in 2017 regarding 2016.
Read an August 2016 report [PDF 70 KB] prepared by the KPMG member firm in Liechtenstein
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