Volltext: The future importance of tax compliant clients

LDF and Swiss-UK Tax Agreement 
Abstract 
This thesis aims to analyse the Liechtenstein disclosure facility (LDF) and compare it with the Swiss- 
UK tax agreement. The thesis starts with an overview of the recent developments which led to the 
implementation of the LDF and the Swiss-UK tax agreement. The general functionality of tax havens 
as well as the roles of Liechtenstein, Switzerland and the United Kingdom (UK) is analysed in the first 
chapter. This overview is followed by an analysis of the LDF. The analysis is based on the Memoran- 
dum of Understanding, three Joint Declarations and the Tax Information Exchange Agreement be- 
tween Liechtenstein and the United Kingdom (UK). The Swiss-UK tax agreement is then analysed. 
Finally, chapter four compares the two tax options with a focus on the tax load, case comparisons, 
definition of the relevant persons, privacy aspects and the flexibility and sustainability of the agree- 
ments. In brief, the LDF is generally the cheaper solution and should be preferred unless anonymity is 
worth paying for with “goodwill”. Finally, a conclusion identifies the winners in the recent develop- 
ments and explains why tax compliancy will become even more important in the future. Furthermore, 
a conclusion on the LDF and the Swiss-UK tax agreement is given and their impact on Liechtenstein 
explained. Finally, a short outlook on the future of the financial centres of Liechtenstein and Switzer- 
land is given.
	        

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