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NEWS

23/04/2013 Liechtenstein, Mexico Sign TIEA


23/04/2013

Liechtenstein's Ambassador in Washington Claudia Fritsche and Mexico's Finance Minister Luis Videgaray Caso have recently signed in Washington a tax information exchange agreement (TIEA) between the Principality of Liechtenstein and Mexico.

According to the Liechtenstein Government, the treaty with G20 member state Mexico provides for the exchange of tax information upon request. The accord is akin to other TIEAs that Liechtenstein has already concluded, most of which have now entered into force. The TIEA with Mexico complies with the internationally recognized standard, and largely follows the wording of the Organization for Economic Cooperation and Development's Model Convention.

The provisions contained in the bilateral treaty apply to requests submitted following the TIEA entry into force date, and relate to tax years after January 1, 2014.

During the course of the meeting, the negotiating delegations of both countries also agreed to further strengthen fiscal cooperation, and to therefore examine the idea of negotiating and concluding a bilateral double taxation agreement (DTA).

Determined to drive forward the negotiation and conclusion of bilateral tax accords, the Liechtenstein Government intends to negotiate double taxation agreements with the country's economically and strategically important partners in 2013.

Liechtenstein's 2013 negotiation program was drawn up in close collaboration with the relevant associations and government agencies. The program includes key trading partners, identified as target markets with high importance, with whom a DTA should be concluded as a matter or priority. In addition, further "interesting partner states" are listed, namely those that are of interest as future markets, or bridge states or because of their "active agreements policy."

As a result of this active policy, Liechtenstein has already been able to conclude DTAs with key trading partners including Germany and the UK.

Liechtenstein’s tax strategy aimed at maintaining and strengthening the competitiveness of Liechtenstein as a location is based on three pillars, on international tax cooperation, on an innovative and competitive national tax legislation as well as an outstanding quality of service in business and administration.

Source: http://www.lowtax.net

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