Budapest (MTI) – Hungary and Liechtenstein have signed an agreement to avoid double taxation and prevent tax evasion, the economy ministry told MTI on Monday.
The agreement was signed by Hungary’s ambassador to Switzerland also accredited to Liechtenstein, Istvan Nagy and Adrian Hasler, the prime minister of Liechtenstein.
The deal covers regulations pertaining to the exchange of information between the tax authorities of the two countries, extending to data covered by bank secrecy rules. The agreement will facilitate uncovering attempts at tax evasion.
The double taxation agreement will also ensure more attractive investment environments for both countries’ investors and contribute to boosting bilateral investment and overall economic ties, the ministry added.