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LDF to close

The Liechtenstein disclosure facility will close to new registrations on 31 December 2015. The LDF can offer preferential terms for those with undeclared liabilities. The LDF which guarantees immunity from prosecution for tax offences is being closed three months early.

The LDF can be used for a range of tax situations whether the taxpayer has at one end of the scale committed tax fraud or at the other end made an innocent mistake resulting in undeclared liabilities. Different terms and benefits apply and they will depend on the taxpayer’s circumstances … The process can be used for those with wholly onshore problems and is not restricted to those with offshore accounts or assets. The facility provides a streamlined and efficient way of interacting with the taxman.

Many taxpayers with investments in the other jurisdictions with dedicated disclosure facilities (Jersey...

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