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First International Tax Seminar

On 19 November 2013, around 100 people took part in the first International Tax Seminar held by the Chair for Tax Management and the Laws of Liechtenstein and International Taxation at the University of Liechtenstein. This newly developed continuing education concept focused on practice-oriented case studies – tailored to the questions of trustees and banks in Liechtenstein – addressing the implementation of the taxation treaty between Liechtenstein and Austria.

On 19 November 2013, around 100 people took part in the first International Tax Seminar held by the Chair for Tax Management and the Laws of Liechtenstein and International Taxation at the University of Liechtenstein. This newly developed continuing education concept focused on practice-oriented case studies – tailored to the questions of trustees and banks in Liechtenstein – addressing the implementation of the taxation treaty between Liechtenstein and Austria.

Using case studies and examples from practice, the International Tax Seminar comprehensively addressed the practical implementation of the taxation treaty between Liechtenstein and Austria, the Liechtenstein Implementation Act and the information referring to it released by the Liechtenstein Tax Authority, as well as the decree issued by the Austrian Federal Ministry of Finance. Professor Martin Wenz and further experts from the fields of research, administration and practice highlighted the problem areas and discussed possible solutions and ways of implementing them with regard to past regulations on the restructuring of Liechtenstein accounts and depositaries, as well as the restructuring of transparent and intransparent asset structures under management in Liechtenstein and belonging to natural persons resident in Austria. Also under discussion were the issues of the future taxation of capital gains on accounts and depositaries held in Liechtenstein through the imposition of a flat rate withholding tax without an assessment of the natural persons subject to taxation on such capital gains in Austria, or a withholding tax that is based on such an assessment, as well as the future taxation of transparent and intransparent asset structures under management in Liechtenstein with founders and beneficiaries residing in Austria. The approximately 100 participants made use of the new format of the event, contributing questions and statements to a challenging discussion, and thus also contributing to the success of the event.