The US and Liechtenstein signed an agreement for the exchange of information on tax matters.
According the International Tax Review “The US government is leading the way on expanding information exchange,” said Jesse Eggert, attorney adviser at the US Department of Treasury. “This is a comprehensive information exchange which pierces bank secrecy.”
This is another encouraging step toward a more transparent economy. The move is particularly welcomed as Liechtenstein is not included in the list of OECD cooperative jurisdictions .
We look forward to see the Spanish government moving in this direction instead of pursuing an inquisitional approach to offshore jurisdictions, as reflected by the infamous RD 1080/1991, a 17th years old Statute, still in force, criminalizing MOST offshore jurisdiction. It is very unfortunate that the Spanish government is neglecting to consider the OECD position, by accepting that 35 Jurisdictions are complying or planning to comply with the international rules for information exchange. We would like to see a change of approach.
Meanwhile, from Tax Precision we continue advocating for all the OECD countries to increase the network of bilateral tax agreements and information exchange protocols with cooperative offshore jurisdictions, and beyond. We believe this is a much efficient and effective approach to fight tax evasion.
Tags: Double Tax Treaty, OECD, Spanish Tax