Bundesrat Approved Tax Treaty with Liechtenstein

Bundesrat Approved Tax Treaty with Liechtenstein

The Bundesrat, Germany’s upper house of parliament has recently adopted the German-Liechtenstein bilateral double taxation agreement.

The agreement will enter into force on January 01, 2013. It complies with the OECD’s standard on transparency and information exchange in tax matters. The information exchange provision allows for the automatic exchange of tax information.

The tax treaty provides exemption from a withholding tax imposed on dividend with a minimum participation of 10% and a minimum participation period of one year. The agreement also accords a withholding tax right for gains of artists and sportsmen.

The agreement will serve to reduce tax barriers and to promote and to strengthen economic relations between the two countries.

Recently the German Bundesrat also adopted double taxation agreements with the Netherlands and with Luxembourg.

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