Liechtenstein Approves Report, Proposal Amending GloBE Act to Implement GIR MCAA

The Liechtenstein Government July 8 announced the same date approval of the report and proposal on amending the Minimum Taxation of Large Corporate Groups Act (GloBE Act) to implement the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA). The announcement includes that: 1) Liechtenstein plans to sign the GIR MCAA in 2025; 2) the first exchange of GloBE information returns under the GIR MCAA is expected to occur in 2026, for the 2024 reporting year; and 3) the GloBE Act will be amended to regulate the obligations of Liechtenstein reporting entities, exchanges of information reported on ...