Liechtenstein on charm offensive

Liechtenstein is to go on a charm offensive in neighbouring countries to dispel notions that it is a harmful tax haven.

The government of the principality is introducing a new law relating to 'foundations', a kind of company structure, and is planning a marketing campaign this Autumn in Austria, Germany and Switzerland ahead of the law's introduction in 2009, tax-news.com reported.

The moves are part of attempts to shore up Liechtenstein's reputation following revelations that hundreds of wealthy Germans were alleged to have been salting money away and evading tax through the principality.

'The government is aware that Liechtenstein's image abroad continues to be tainted by false information and prejudice, despite Liechtenstein's great efforts in this regard,' the government said in its announcement.

It now plans to launch an initiative to counter the accusations: 'clichés concerning the Liechtenstein financial centre and false impressions of journalists will be corrected through matter-of-fact communication work,' it said.

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