Report 2011 - EFTA Court

15 The coupon tax applies to companies the capital of which is
divided into shares, as provided for in Article 88d(1)(a) of the Tax
Act. According to Article 88h(1)(a) and (b), it is levied at the rate
of 4% on any distribution of dividends or profit shares (including
distributions in the form of shares).
16 According to Article 88i(1) of the Tax Act, the person liable to
pay the coupon is also liable to pay the tax. Article 88k(1) of the
Tax Act stipulates that the sum paid out on a coupon must be
reduced by the amount of the tax levied on such coupons.
17 By virtue of Act of 18 December 1997 on the amendment of the
Liechtenstein Tax Act, the Liechtenstein authorities introduced
special tax rules applicable to captive insurance companies.
Articles 82a and 88d(3) were introduced into the Tax Act with
effect from 1998. These Articles are included in the special tax
provisions (Besondere Gesellschaftssteuern) listed in Section 4.B
of the Tax Act for certain company forms such as insurance
companies, holding companies, domiciliary companies and
investment undertakings.
18 Article 82a of the Tax Act refers to captive insurance companies.
Article 82a(1) provides that “[i]nsurance companies as defined in
the insurance Supervision Act which exclusively engage in captive
insurance (“Eigenversicherung”) shall pay a capital tax of 0.1% on
the company’s own capital. For the capital exceeding 50 million
the tax rate is reduced to 0.075% and the capital in excess of
100 million to 0.05%”.
19 Under Article 82a(2) of the Tax Act, insurance companies which
engage in captive insurance and ordinary insurance activities
for third parties are liable to regular capital and income tax,
according to Articles 73 to 81 of the Tax Act, for that part of
their activities which concern third party insurance. By virtue of
Article 88d(3) of the Tax Act, shares or units of captive insurance
companies are exempt from the coupon tax.
20 According to point 7 of Article 11(1) of the insurance Supervision
Act, a “captive reinsurance undertaking” means “a reinsurance
Joined Cases E-4/10, E-6/10 and E-7/10 Principality of Liechtenstein, Reassur Aktiengesellschaft,
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Swisscom RE Aktiengesellschaft v EFTA Surveillance Authority
Summary Judgment
CAses Case
e-xx/x
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e-4/10
e-6/10
e-7/10
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