Ireland And Liechtenstein agree OECD to the exchange of information re tax matters

The Republic of Ireland is continuing to tighten the rules that can be used against money launderers, in this case tax evaders.

At the signing ceremony, on 13th October 2009, The Minister for Finance, Mr. Brian Lenihan T.D., stated:

"Ireland fully supports the renewed efforts of the OECD on transparency and effective exchange of information on tax matters. Ireland has a system of full exchange of information and is fully in compliance with OECD standards. We agree that all countries and territories that have not yet committed to the OECD standards, including major financial centres, should do so.”

This Exchange Agreement will allow the Irish Revenue Commissioners to request information which is relevant to an Irish tax investigation directly from the authorities in Liechtenstein. Information that would typically be relevant is bank account information and beneficial ownership information for companies and other entities established in Liechtenstein.

This Exchange Agreement with Liechtenstein is the ninth that Ireland has signed, following the signing of agreements with the Isle of Man, Guernsey, Jersey, the Cayman Islands, Gibraltar, Anguilla, the Turks and Caicos Islands and Bermuda.

With thanks to our friends at the Association of International Accountants.

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