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Aug 28, 2009, 05:56 AM
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Daniel
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Aug 28, 2009, 05:56 AM
Oh, the confusion!
Yesterday, Reuters reported that Liechtenstein's two biggest banks - LGT and LLB - were seeing customers withdraw assets as moves against banking secrecy in the principality continue apace. (HMRC's Liechtenstein's Disclosure Facility begins next Tuesday.)
Yet, on the same day, law firm McGrigors claimed that individuals planning to declare earnings held in offshore accounts can slash the cost of doing so by transferring assets into a Liechtenstein bank account.
What's a tax evader to do?
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