On October 28, 2015 the European Commission issued a press release stating that on that same day the European Union and Liechtenstein signed a new tax transparency agreement.

Unfortunately we have not been able to locate the text of the agreement yet. However according to the press release issued by the European Commission, the agreement is similar to the one signed with Switzerland earlier this year.

According to the press release, under the new agreement Liechtenstein and the EU Member States will automatically exchange information on the financial accounts of each other's residents from 2017. Under the new agreement, the EU Member States and Liechtenstein will exchange the names, addresses, tax identification numbers and dates of birth of their residents with accounts in Liechtenstein as well as other financial and account balance information.

The press release also states that negotiations on similar agreement to be concluded between the EU and Andorra, San Marino and Monaco are being finalized.

According to a press release issued by the Government of Liechtenstein in this repect, the signed agreement is an amending protocol which will replace the taxation of savings agreement between Liechtenstein and the EU that has been in force since 2005.

Click here to be forwarded to the press release as issued by the European Commission in this respect.

Click here to be forwarded to remarks made by Commissioner Moscovici in this respect.

Click on the language of your choice to be forwarded to the press release as issued by the Luxembourg Government in this respect (German, English). 

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