LDF and Swiss-UK Tax Agreement 
1.3.2.1 Liechtenstein Declaration 
In the end, the combination of tax scandals and legal sanctions, as well as the stolen data CD from 
LGT which resulted in the “Zumwikel™ case and some other incidents, increased the pressure on 
Liechtenstein to cooperate in cross-border tax issues." This led to the drafting of several provisions 
and concessions regarding banking secrecy against other states. On 12th March 2009, the government 
presented the so-called “Liechtenstein Declaration”. 
The Government of Liechtenstein and the Prince of Liechtenstein agreed to implement the “global 
standards of transparency and to exchange information in accordance with the OECD standards on 
comprehensive cooperation on tax questions” 
One result of the declaration was the successful negotiation of Tax Information Exchange Agreements 
and/or double tax treaties, with 25 countries signing up to date.? Furthermore, the Government of 
Liechtenstein examined a solution with the UK for managing the tax liabilities of foreign untaxed as- 
sets in the country. 
Lauber identified five goals for the Liechtenstein Declaration. The first is to gain time for rearranging 
current business relationships and to ensure legal certainty for current clients. The second is to guaran- 
tee exemption from punishment for financial market participants. The third is to ensure a regularisa- 
tion of tax liabilities for existing clients. A fourth goal is to negotiate a level playing field for Liech- 
tenstein companies abroad. Last, but not least, the declaration was made to improve the reputation of 
Liechtenstein.” 
1.3.2.2 Liechtenstein Disclosure Facility 
As a result of the Liechtenstein Declaration, the Government of Liechtenstein and the United King- 
dom agreed on the “Liechtenstein Disclosure Facility” (LDF) which includes an amnesty for UK citi- 
  
“ Nocker, 2010, p. 85-96. 
# Lauber, 2010, p. 499. 
^ Government of Liechtenstein, 2009, p- 1&2 
? Ministerium für Prüsidiales und Finanzen, 2012. 
?? [ auber, 2010, p. 500. 
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