Liechtenstein has undertaken the necessary reforms to eliminate rules that harm competition. This means that the country can now be removed from the list of states that have promised to amend their tax law for 2018 but have yet to implement it. The decision in Liechtenstein’s favour was made by the EU Council of Ministers on Tuesday.
Liechtenstein and Peru are the only two countries to have been fully removed from what is commonly known as the ‘grey list’. Other countries have abolished some, but not all, of the taxation practices criticized by the EU.