Liechtenstein’s Prince Alois Excoriates Germany’s Tax Investigation

Prince Alois of Liechtenstein excoriated the recent actions of Germany to expose tax evaders that have accounts in his country. Based on stolen data from the LGT Group, a bank owned by Liechtenstein’s royal family, several prominent businessmen have undergone closer scrutiny from their governments. Andorra and Monaco are two other countries that are considered uncooperative tax havens.

Two reputable newspapers discussed the tax haven issue when Liechtenstein came under fire recently for their banking policies. The Wall Street Journal opined that it was not right for other governments to criticise Liechtenstein for protecting their clients. The New York Times opined that Liechtenstein had no right protecting tax evaders and should cough up the necessary information when other governments request it.

What is considered ethical? Is it right to use monetary means to obtain stolen data in order to catch the tax evaders? Should tax havens be held accountable for the business dealings of their clients? Is it right to demand documents from other countries which do not disclose the banking practices of their clients?

You be the judge.