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  1. Wealth
October 8, 2008

Swiss, Liechtenstein bankers gather to defend secrecy

By Spear's

Senior Swiss and Liechtenstein bankers defended their countries’ banking secrecy laws, in declarations to a private wealth management seminar held in Vaduz.

Senior Swiss and Liechtenstein bankers defended their countries’ banking secrecy laws, in declarations to a private wealth management seminar held in Vaduz.

In an address, the principality’s prime minister Otmar Hasler noted that the state’s national strategy has a firm focus on the protection of privacy and providing key incentives for private investment.

Hasler reiterated his belief that an increase in tax cooperation is possible while at the same time preserving banking secrecy. Such cooperation was imperative, he added, noting that a fraud agreement has already been formalised with the EU.

Moreover, Liechtenstein is prepared to sign double taxation agreements with other countries with “reasonable rules” to protect the privacy issue, he said.
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