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| Liechtenstein signals tax reform | Liechtenstein signals tax reform |
| (about 2 hours later) | |
| Liechtenstein, which has been at the centre of an international row over tax evasion, has announced that it will co-operate more fully on tax matters. | Liechtenstein, which has been at the centre of an international row over tax evasion, has announced that it will co-operate more fully on tax matters. |
| It said it would offer "comprehensive co-operation" in future, but would maintain its "culture of privacy". | It said it would offer "comprehensive co-operation" in future, but would maintain its "culture of privacy". |
| Other countries have complained that wealthy individuals had used Liechtenstein's secrecy laws to avoid paying tax. | Other countries have complained that wealthy individuals had used Liechtenstein's secrecy laws to avoid paying tax. |
| It has been on an international list of "unco-operative tax havens". | |
| The Organisation of Economic Co-operation and Development (OECD) had named Liechtenstein as one of only three states remaining on its blacklist. | The Organisation of Economic Co-operation and Development (OECD) had named Liechtenstein as one of only three states remaining on its blacklist. |
| "In the future, we should offer all states comprehensive co-operation if they are willing to find sensible solutions with us the for the client relationships we have built up," Prince Alois of Liechtenstein said in a statement. | "In the future, we should offer all states comprehensive co-operation if they are willing to find sensible solutions with us the for the client relationships we have built up," Prince Alois of Liechtenstein said in a statement. |
| He further qualified this promise by saying his country would continue to practice "a culture of privacy that goes far beyond bank client secrecy in tax matters". | He further qualified this promise by saying his country would continue to practice "a culture of privacy that goes far beyond bank client secrecy in tax matters". |
| "Our state is here for its citizens, not the other way around," he added. | "Our state is here for its citizens, not the other way around," he added. |