Glossar
Results (118)
Consolidation means that transactions between units belonging to the same group of units are eliminated on both the supply and use side. It is assumed that these transactions are recorded in the same amount by both entities involved. Consolidation in financial statistics takes place between sub-sectors at general government level and within sub-sectors.
Public finance
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The former tax act contained provisions concerning the coupon tax. Coupon tax had to be paid on coupons (profit distribution) of shares issued by a company domiciled in Liechtenstein. The provisions concerning coupon tax were repealed when the current tax act entered into force on 1st January 2011, with the exception of old reserves. Until 31 December 2015, a coupon tax was levied on old reserves, even if no distribution was made. The usual tax rate of the coupon tax was 4%. In the years 2011 and 2012, the tax rate on distributions from old reserves was 2%, and in the years 2014 and 2015, the tax rate was 2.5%.
Taxes, levies
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Jurisdiction in civil and criminal matters is exercised in the first instance by the Regional Court, in the second instance by the High Court and in the third and final instance by the Supreme Court. Courts of public law are the Administrative Court and the State Court. The Administrative Court decides on appeals against decisions and orders of the Government and the commissions appointed in place of the Government. An appeal under constitutional law may be lodged with the Constitutional Court to contest decisions of the Supreme Court and the Administrative Court. All courts have their seat in Vaduz.
Justice, administration of justice
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Currency and deposits (AF.2) include cash in circulation, as well as deposits with banks, both in the national and in foreign currency. Transactions in currency and deposits (F.2) refer to the acquisition or disposal of currency in circulation and deposits with banks.
Public finance
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Current transfers in the context of international cooperation include all transfers in kind and money transfers between the government and government agencies or international organisations in the rest of the world, except investment grants and other capital transfers.
Public finance
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Intra-government current transfers comprise transfers between the different sub-sectors of general government (federal, state, local government and social security funds) other than taxes, subsidies, investment grants and other capital transfers.
Public finance
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Debt securities (AF.3) are negotiable instruments which serve as debt securities. Negotiable instruments refer to property that is readily transferable from one owner to another by transfer or endorsement. To be considered negotiable, a bond must be structured for possible trading on an organised stock exchange or over-the-counter market, but proof of actual trading is not required.
Public finance
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Net financial balance as a percentage of gross domestic product. The government deficit or surplus is defined in the Maastricht Treaty as net lending/net borrowing of the general government sector as defined in the ESA, including interest flows resulting from swap and for-ward rate agreements. The general government sector comprises central government, state government, local government and social security funds.
Public finance
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Direct taxation comprises income and asset taxes (D.5).
Public finance
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Direct taxes according to the OECD classification consist of the tax groups 1000 Taxes on income, profits and capital gains, 3000 Taxes on payroll and workforce, 4000 Taxes on property, and 6000 Other taxes. Direct taxes are e.g. wealth tax and personal income tax, corporate income tax, coupon tax, real estate capital gains tax, withholding tax, special corporation taxes and tax based upon expenditure.
Taxes, levies
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Distributions are income the owners receive from shares and other share rights as compensation for making financial resources available to corporations. A typical is dividend payments.
Public finance
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The earnings correspond to the revenues including the change in tax receivables from the taxpayers.
Taxes, levies
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Under the current tax law, legal entities that were previously subject to capital and earnings tax have been subject to earnings tax since 1 July 2011. Earnings tax is based on the taxable net income. The taxable net income consists of the total earnings after deduction of expenses incurred for business purposes. The earnings tax rate is 12.5% of the taxable net income. The minimum earnings tax is CHF 1,200. The minimum earnings tax is not levied on taxpayers who operate a business run on commercial lines and whose balance sheet total does not exceed CHF 500,000 on average over the last three financial years.
Taxes, levies
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The estate tax under the former tax law was used to tax the estates due in the country until the end of 2010. The inheritance tax covered the acquisition of assets due to death. The tax rates of the estate tax and the inheritance accrual tax were graded according to the amount of the estate or the inheritance accrual as well as the degree of kinship. The minimum tax rate for inheritance from parents to children was 0.5% for both types of tax. With the entry into force of the current tax law, the estate and inheritance tax was abolished on 1 January 2011. In the financial years 2011 and 2012, the inheritance tax was still applicable to those estates resulting from a death before 1 January 2011
Taxes, levies
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The withheld share of the taxation of interest is derived from the retention on interest in-come paid by Liechtenstein paying agents to natural persons resident in an EU Member State. The Liechtenstein share corresponds to 25% of the total tax retention. 75% of the tax retention flows into the respective countries of residence of the taxed persons.
Taxes, levies
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The excise duties and customs duties include the Liechtenstein share of the excise duties and customs duties collected by the Federal Customs Administration. The excise duties include in particular the tobacco tax, the mineral oil tax on fuels, the mineral oil tax surcharge on fuels, the mineral oil tax on combustibles, the automobile tax and the beer tax.
Taxes, levies
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