Liechtenstein signed TIEAs with the Netherlands and Belgium on November 10, and has been removed from the Organization for Economic Cooperation and Development’s “grey list” of countries that haven’t complied fully with global tax standards. Prime Minister Klaus Tschütscher said yesterday that the principality will continue to normalize relations with countries through bilateral treaties, even after signing 12 tax information exchange accords. *“I think this is a good standpoint for the future, though of course it’s an intermediate step. We are working in open markets, in a globalized world, so tax evasion should be marginalized.”*
Liechtenstein, a principality of 35,000 people, pledged in March to comply with the OECD’s standards. OECD Secretary-General Angel Gurria said, *“Liechtenstein has within a few months turned into reality its commitment to fully cooperate in tax matters.”*
The Prime Minister has announced that an agreement with the European Union might be reached as early as next month.