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News on the VAT Act – net tax rate method
Net tax rate method The partially revised VAT Act will enter into force in Switzerland on 1 January 2025. Due to the treaty obligation for parallel VAT legislation, the partial revision of the Liechtenstein VAT Act will take effect at the same time. A significant change to the new VAT Act concerns the net tax … Read more
What is IFRS 16?
IFRS stands for “International Financial Reporting Standards” and are international accounting standards. These standards are used to standardize the annual and consolidated financial statements of companies worldwide and make them comparable. There are several key aspects of IFRS: In principle, IFRS financial statements are a must for capital market-oriented entities. Liechtenstein financial service providers have … Read more
What is IFRS?
IFRS stands for “International Financial Reporting Standards” and are international accounting standards. These standards are used to standardize the annual and consolidated financial statements of companies worldwide and make them comparable. There are several key aspects of IFRS: In principle, IFRS financial statements are a must for capital market-oriented entities. Liechtenstein financial service providers have … Read more
PGR size criteria – raising the thresholds
Increase in the thresholds for company sizes for financial years from January 1, 2024 On March 7, 2024, Parliament held a final debate on the government’s statement no. 15/2024 on the issues raised during the first reading regarding the amendment of the Persons and Companies Act and other laws and unanimously adopted the bill. Among … Read more
