Liechtensteins tax revenues increased overall by around 11 per cent in 2015. The most profitable type of tax was income tax, whose volume rose by 23 per cent.
The 2015 tax statistics show that tax revenues in the fiscal year amounted to CHF 878 million. According to a statement from the Office of Statistics, tax revenues were 10.9 per cent lower in 2014 with CHF 792 million. Additional revenues from the coupon tax and income tax were cited as the reason behind the increase. The latter is the most profitable type of tax: revenues from it in 2015 were CHF 228 million, 23 per cent or CHF 42 million higher than in 2014. Its increase was attributed to the strong rise in the number of investments after the special taxation regime on domiciliary companies was cancelled as well as improved results of several companies in 2014, explained the Office of Statistics.
Property and income tax of individuals was the second most important type of tax with CHF 227 million. Compared to the previous year, it fell slightly by 6 per cent due to lower revenues from self-disclosure; in the fiscal year 2014, it had increased by CHF 90 million. 62 per cent of households pay less than CHF 5,000 in property and income tax. Value Added Tax generated revenues of CHF 186 million, which was CHF 11 million and 6 per cent higher than the previous year.
According to the statement, half of the taxable people domiciled in Liechtenstein disclosed assets of CHF 32,640 or less in their 2014 tax returns. Similarly, half reported an acquisition of CHF 51,941 or less in 2014.