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Featured Content

tax Say goodbye to the arm’s length principle
The G20 has endorsed the The Organisation for Economic Co-operation and Development’s (OECD’S) roadmap for resolving the ‘tax challenges arising from the digitalisation of the economy’. The reallocation of profits and minimum tax proposals that have emerged following a recent round of consultations could put an end to the arm’s length principle that has governed transfer pricing for decades.
legal services Termination of an indefinite individual employment contract
Swiss labor law is in many cases more flexible and liberal than the labor law regulations in other European countries. Liechtenstein has adopted the Swiss regulations on employment contract law (Art. 319 et seq. Swiss Code of Obligations (CO)) practically one-to-one (§ 1173a Art. 1 et seq. Liechtenstein Civil Code (ABGB)). The liberal character of Swiss and Liechtenstein labor law is reflected in particular in the regulations governing the termination of an employment relationship. In practice, however, there are often uncertainties in connection with dismissals. The following summary provides a brief overview of some of the frequently asked questions.
tax § 165 (5) StGB: Substance for tax purposes
The legal provisions on money laundering were extended in Liechtenstein on 1 July 2019 and now also include tax fraud and qualified tax evasion, even if this leads merely to a tax saving and not to an actual inflow of capital. Those affected will now face the challenge of proving that no possible tax saving has been made. For legal entities with foreign participants that have little substance in Liechtenstein, providing adequate evidence may pose a particular challenge.
tax Tax Alert - Electronic Filing of VAT Returns New Standard
Electronic filing of VAT returns as a new standard will replace paper filings. As from the reporting period Q1/2020 paper filing would only be granted by exception based on a specific written request for a paper VAT return.
Audit The «Business Risk Analyst»
The internal auditor has a very specific and often relatively isolated role within the company. He is very close to the board of directors and management and yet not part of them. Digitalisation is also creating new challenges for risk management - companies need to be more vigilant than ever. While business remains the same, individual processes are becoming increasingly dependent on data and its in-depth analysis. It is thus clear that the career profile of an “internal auditor” will change to being that of a “business risk analyst”.
tax A no-deal Brexit
With less than two months to go before 31 October, it seems ever likely that, should the UK leave the EU, it will be without a deal with the European Union. It is still possible that a deal may be agreed or that BREXIT day may be postponed further but both Government and business should be prepared for an imminent ‘no-deal’ departure. This Briefing Paper provides insight into the latest VAT and Customs developments for both importers and exporters in a ‘no-deal’ scenario.