euro|topics - Liechtenstein criticises German tax investigations

05/07/2009

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Main focus of Wednesday, February 20, 2008

Liechtenstein criticises German tax investigations

The German scandal over tax evasion and the procurement of client data from Liechtenstein by the Federal Intelligence Service have led to a conflict between Liechtenstein and Germany. Liechtenstein wants to take action against the Intelligence Service's course of action, while Germany and the OECD are criticising the country's unwillingness to cooperate in tracking tax evaders.

Süddeutsche Zeitung - Germany

"These transgressions tell us that time is up for financial shadow regimes," says Nicolas Richter. "But Liechtenstein has raised the status of tax evasion to a kind of human right, and gives constitutional protection to banking privacy. At best, reforms take place when foreign entities uncover the biggest abuses. … The German government should offer to negotiate a comprehensive legal agreement for the principality, but should also make it clear that commercial sanctions are possible if the country continues to shirk European standards. ... There is no Europe à la carte. Anyone who wishes to profit from the EU's open borders and legal security must also be prepared to hand over information about alleged criminals." (20/02/2008)

Le Temps - Switzerland

Catherine Cossy comments on the virulent reaction of Liechtenstein authorities to Germany, accused of attacking the sovereignty of this little neighbouring state. "Only the little opposition party, Free List, says it understands that Germany should do everything it can to fight tax evasion. ... The Principality is under shock, to say the least. Prince Alois [Head of State] is talking about a campaign orchestrated from up top. ... On Tuesday [February 19th] the OECD nevertheless recalled in a press release the fact that Liechtenstein was one of the last countries in the world, along with Andorra and Monaco, not to co-operate enough with the international community in matters of tax evasion. Foundations in particular, a Liechtenstein specialty, have been on the hot seat for a long time [there is said to be 50,000 of them]." (20/02/2008)

Der Standard - Austria

Helmut Spudich criticizes the procedures of German tax investigators. "Of course we have to fight hard against the systematic tax evasion - totalling millions of euros - of a highly paid clique (who prefer the term 'key personnel'). But to fight at any price? Even to the extent of procuring data whose release is illegal in other countries? Germans would probably be highly indignant if the CIA were to requisition Siemens data in Germany for the purposes of the US exchange supervisory authority. Remember, Europeans were certainly quite upset when the US secret service pored over SWIFT transactions via the European bank transfer centre, looking for signs of terrorist funding. But there seems to be a certain satisfaction in the fact that the German Federal Intelligence Service has 'cracked a bank' in Liechtenstein (to quote an investigator)." (20/02/2008)

» To the complete press review of Wednesday, February 20, 2008

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