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U.K. to Investigate Potential Tax Evaders in Liechtenstein
By Brian Monroe
printBritish investors suspected of tax evasion through investments in Liechtenstein must either disclose their assets or find banks outside of the European principality, according to a tax agreement announced Tuesday. Under the plan, U.K. citizens identified by Liechtenstein financial institutions will have from September of this year through March 2015 to report assets they have hidden from tax collectors in the last decade. Those who disclose will pay up to 10 percent penalties on unpaid taxes, while those who do not cooperate will be dropped by Liechtenstein financial institutions and penalized fully. The agreement is part of a larger, international...
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