Liechtenstein and the United States sign an information-sharing agreement, The Government`s Warnings, and the United States, represented by Head of Government Otmar Hasler and U.S. Deputy Ambassador Leigh Carter to Liechtenstein and Switzerland, formally signed the information exchange agreement in Vaduz on Monday, already paralyzed in October. This brought to an end the more than two-year negotiations between the United States and Liechtenstein. With today`s agreement, we reaffirmed our good and long-standing relationship with the United States. We have thus created a solid basis for future cooperation with the newly elected administration of the United States,” said Head of Government Otmar Hasler.This agreement guarantees an exchange of on-demand information for cases from fiscal year 2009, i.e. for tax returns normally filed in the first months of 2010 and beyond. The exchange of information takes place in cases of suspicion based under U.S. law of tax offences committed by U.S. taxpayers with assets in Liechtenstein. The exchanges are governed by an appropriate procedure and are carried out exclusively on request and after notification by the US authorities of the identity of the taxpayer concerned. It is expected that a Liechtenstein court will be able to rule on the legality of the application.

The agreement thus guarantees the legal security of the bank`s client and guarantees the privacy of the Bürgers.Im 2009, the government will submit to the regional parliament the necessary legislative provisions for this agreement of enforcement of the statutory commissions and mutual legal assistance. The agreement thus enters into force from 1 January 2010. Vaduz, 17 September 2009 – Liechtenstein`s parliament unanimously passed the new tax aid law for the implementation of the Information Exchange Agreement (TIEA) signed with the United States on 8 December 2008. Thus, the legal conditions are met and the agreement can enter into force on 1 January 2010, with effect in the fiscal years from 2009. With the law passed today, the regional parliament has paved the way for a procedure that is in line with the rule of law and at the same time fast in the field of international mutual assistance,” said Prime Minister Klaus Tsstscher. “This creates legal certainty for bank customers and financial intermediaries not only vis-à-vis the United States, but also in the perspective of other agreements we enter into to implement OECD standards.” The new Tax Assistance Act provides for an exchange of information following a reasoned request from the U.S. Tax Administration, which must specify the identity of U.S. tax payers and the underlying facts.