Liechtenstein: Updated CRS guidance, XML schema

Liechtenstein: Updated CRS guidance, XML schema

The tax authority of Liechtenstein updated the XML schema version 2.0 under the common reporting standard (CRS) to reflect certain changes.

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There are updated procedures for transmitting mass reports to the tax administration; clarification of treatment of fields or elements without data or when there are no account numbers; and measures concerning taxpayer identification number (TIN) and date of birth information.

The tax authority announced that the prior version (CRS XML schema version 1.0) will be valid through 31 December 2020, and that the CRS reporting portal will not be available for the month of January 2021 but will be made available beginning 1 February 2021.

Read an October 2020 report [PDF 73 KB] prepared by the KPMG member firm in Liechtenstein

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