Liechtenstein to exchange information under CRS with further 28 partner states in 2019 for the first time
Liechtenstein Financial Institutions should have filed their CRS returns by 30 June 2019 for the 2018 financial data. There was more work to do this year as the Principality of Liechtenstein increased the scope of reportable account holders by adding those account holders resident in the additional 28 jurisdictions to include Brazil, Israel, Russia, Singapore and Switzerland. The full list of Liechtenstein’s partner jurisdictions can be found in Annex 1 to the AEOI Regulations. There are currently 108 jurisdictions, Liechtenstein is or will exchange the information under CRS with.
Following the receipt of the CRS submissions from the local Financial Institutions, the Principality of Liechtenstein will exchange this information with its partner states by 30 September 2019.
Interestingly, despite being listed in the Annex 1, Kuwait continues to be treated as non-reciprocal jurisdiction this year for 2018 financial data. It is intended for Financial Institutions to file CRS returns on account holders resident in Kuwait starting in 2020.