LDF and Swiss-UK Tax Agreement
Table of Contents
Abstract 6
Preliminary Remarks 7
Research Question 7
Motivation 8
Structure 8
Terms and Definitions 9
1 Recent Developments 11
11 Functionality of Tax Havens 11
1.1.1 DEfiNItiON ……..…........…cccssssrérrra ce sessasaa sara cena se ssaasa sara ere saaaaa sara nanas asaasA anse nee sAaaAa casa case seaaaa sance ea 11
1.1.2 Lists of Tax HAVENS ….….….….…ccccsssssarrra caca se ssassa sara ere saaasa sara cena seasaasA anse nee saaaAa casa cena se aaaa sa sa ca ea 12
1.2 Historical Development of Tax Cooperation 13
1.3 Role of Liechtenstein in the Developments 14
1.3.1 Initial SiUAtION ......…..….…cccérrcscesesésssa sara ca ere ssaasa sara ere saaasa sara ae seasaasA anse nee saaaAa casa see seaaaa sance ea 14
1.3.2 Redirection of the Financial SECtOF..........….…rrrscesssssssa rare case sessaara sara nee ssaasa rase case seaaaa sacs caen 15
14 Role of Switzerland in the Development 18
1.4.1 TIEEIAL STEIATION o.oo ee eee eee eee tee esas eet e eee e teeta se adds a nenne 18
1.4.2 Taxation of Savings Income Agreement with the EU................. eese 19
1.4.3 The American Way of Tax Collection ............... esses enne nnne nnne nennen enne 19
1.4.4 Withholding Tax .............. esee enne ennt tenente tete eh riter et erst rr intr nnne intei acces 20
15 Roleof the UK 21
1.5.1 Initial Situation............. sees sara ca ere ssaasa sara ere saaasa sara ae seasaasA anse nee saaaAa casa cena se aaaa sance ea 21
1.5.2 Overseas Territories and Former Overseas TerritOries …………….…………rscssssssssarrra case sessassa caca asus 22
1.6 Potential Solutions for Liechtenstein and Switzerland 23
2 Liechtenstein Disclosure Facility 23
2. Current State of Research 23
2.2 General Taxation of UK Individuals with Foreign Assets 25
2.2.1 Residence and Domicile.….…...…..….rrrcesessssssrarrra ere ssasra sara case saasaasa caca nee saaasa casa nee se aaaa sa sa ca ess 25
