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Liechtenstein: Updated FAQs on FATCA

Liechtenstein: Updated FAQs on FATCA

The tax authority of Liechtenstein updated a list of “frequently asked questions” (FAQs) as guidance concerning the FATCA regime.


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The updated FAQs address:

  • The addition of information regarding deadlines for classification of Liechtenstein legal entities under the FATCA regime
  • A trustee cannot use “sponsor GIIN” as “Trustee Document Trust GIIN”
  • Implications of a FATCA agreement on accounts of lawyers, law firms, and legal agents
  • The use of a self-assessment mechanism obtained under automatic exchange of information (AEOI)
  • The validity of the U.S. IRS forms W-8 BEN and W-8 BEN-E, and other similar forms for purposes of the FATCA agreement
  • The timeline for compulsory notification of first time reporting to reportable US persons
  • The timing for mandatory disclosure of U.S. taxpayer identification number (TIN) for FATCA reporting
  • Self-certifications for discretionary distributions of a trust that is a financial institution

Read a February 2020 report [PDF 75 KB] prepared by the KPMG member firm in Liechtenstein

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