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Europe's Smallest Countries: - LIECHTENSTEIN

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Author Topic: Europe's Smallest Countries: - LIECHTENSTEIN  (Read 1057 times)
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Bianca
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« on: April 03, 2008, 09:00:55 am »









                                                            Taxation





The government of Liechtenstein taxes personal and business income and principal (wealth). The basic rate for the personal income tax is 1.2%. When combined with the additional income tax imposed by the communes, the combined income tax rate is 17.82%.[7] An additional income tax of 4.3% is levied on all employees for the country's social security program. This rate is higher for self-employed, up to a maximum of 11%, making the maximum income tax rate about 29% total. Income from employment is taxed through monthly withholdings by employer.

The maximum business income tax rate is 18-20%. [8]

The basic tax rate on wealth is 0.06% and the combined total rate is 0.89%.

Liechtenstein's gifts and estate taxes vary depending upon the relationship the recipient has to the giver and the amount of the inheritance. The tax ranges between 0.5% and 0.75% for spouses and children and 18% to 27% for non-related recipients. The estate tax is progressive:




Amount, SFr Rate of Estate Duty


The first 200,000 1%

The next 400,000 2%

The next 600,000 3%

The next 800,000 4%

On the residue over 2m 5%


The rate above is halved if the estate passes to the spouse, children. or parents.




The 2008 Liechtenstein tax affair is a series of tax investigations in numerous countries whose governments suspect that some of their citizens may have evaded tax obligations by using banks and trusts in Liechtenstein; the affair broke open with the biggest complex of investigations ever initiated for tax evasion in the Federal Republic of Germany.[10] It is seen also as an attempt to put pressure on Liechtenstein, one of the so-called uncooperative tax havens — along with Andorra and Monaco — as identified by the Paris-based Organization for Economic Cooperation and Development in 2002
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