By concluding negotiations on the 21st Double Taxation Convention, Liechtenstein continued to implement its objective of creating legal certainty and non-discriminatory tax rules for multinationals. In this regard, it should be noted that the new treaty also provides for a mutual agreement procedure to resolve possible difficulties between the two countries. Overall, the new double taxation agreement for Liechtenstein and the Netherlands is fully aligned with the OECD/G20`s Base Erosion and Profit Shifting (BEPS) project and offers full tax transparency based on the global standard for automatic exchange of information (AIA). The trade agreement between the United Kingdom, Switzerland and Liechtenstein will serve as the basis for economic and trade relations between the United Kingdom, Switzerland and Liechtenstein. It extends relevant parts of the trade agreement between the United Kingdom and Switzerland to Liechtenstein. It is necessary because Liechtenstein is part of the Swiss customs territory. Foreign taxes may be avoided on national taxes (method of imputation) if (i) the income is received in a country or if the assets are held by a country which has concluded with Liechtenstein a convention for the avoidance of double taxation and this Convention provides for a tax credit or (ii) reciprocity. In Liechtenstein, income or property is exempt from tax (exemption method) when the convention provides for a tax exemption or is reciprocal for the avoidance of double taxation. In this way, jurisdictions may base a bilateral agreement on the competent authority for the purpose of introducing the automatic exchange of information in accordance with the common information standard or the automatic exchange of country reports on an TIEA, in particular where the automatic exchange of information under a relevant multilateral agreement of the competent authority is not (yet) possible. This is a trade agreement that acts as a complementary agreement to the trade agreement between the UK and Switzerland. .