EC/Liechtenstein agreement: cooperation to combat fraud and other illegal activity to the detriment of their financial interests

The Council adopted a series of conclusions s regards the anti-fraud agreement with Liechtenstein.

Following the discussion held at the meeting of the Council on 4 November 2008, the Council strongly invites the Commission to continue the negotiations with Liechtenstein, in conformity with the mandate from 2006, in order to obtain such changes in the text of the draft agreement to ensure effective administrative assistance and access to information with regard to all forms of investment, in particular foundations and trusts.

As regards the provision of information in tax matters to the Member States, the Council expects Liechtenstein to encompass in the agreement with the European Community and its Member States at least a similar scope of obligations as Liechtenstein recently agreed with third countries.

The Council calls on the Commission to report back on progress at one of its forthcoming meetings, at the latest in May 2009