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ARTICLE · 23 JULY 2008

Attacks On Tax Havens

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

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Recent publicity regarding the United Kingdom and German revenue authorities’ purchase of confidential details of Liechtenstein bank accounts has re-focussed attention on tax havens and on how far the authorities may go to prevent their misuse.

CyprusWealth Management
Elias Neocleous
Elias Neocleous
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Recent publicity regarding the United Kingdom and German revenue authorities' purchase of confidential details of Liechtenstein bank accounts has re-focussed attention on tax havens and on how far the authorities may go to prevent their misuse.

In addition to Germany and the United Kingdom, the USA, Australia, Italy, France, Sweden, Canada, New Zealand, Greece and Spain are all understood to be targeting taxpayers holding funds in Liechtenstein, which, together with Monaco and Andorra, has been identified by the OECD's Committee on Fiscal Affairs as an unco-operative tax haven.

The OECD defines a tax haven on the basis of three tests:

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