Liechtenstein, which has been under pressure from worldwide tax officials to ease its bank secrecy standards, now says it will "cooperate" in an effort to ease global tax collector concerns about the reported billions of dollars stashed there by tax-averse customers.
"In the future, we should offer
Alois further qualified his promise, reports the BBC, by saying his country would continue to practice "a culture of privacy that goes far beyond bank client secrecy in tax matters," adding, "Our state is here for its citizens, not the other way around."
So rest assured, wealthy tax evaders. Liechtenstein knows who pays its bills.
Click here to read my most recent post on U.S. worries about offshore tax shelters in Liechtenstein and other nations that offer similar secret accounts.