Liechtenstein and France have signed a Tax Information Exchange Agreement, a move that was expected after the two countries finished negotiations last week, as WealthBriefing reported.

The agreement follows the model tax agreement of the Organisation for Economic Co-operation and Development, providing for information exchange upon request, starting with the 2010 tax year.

The TIEA still has to be ratified by the legislators of the two countries.

"For the first time, this agreement offers a framework and a procedure governed by the rule of law for co-operation between our two countries in tax matters," said Liechtenstein’s deputy prime minister, Martin Meyer.

In March this year, Liechtenstein recognised the OECD standard on tax co-operation as binding. Liechtenstein has so far concluded several tax agreements with OECD member states and also with some non-members.

As of today, Liechtenstein has concluded TIEAs with OECD states Germany, the UK and the US. Furthermore, it has concluded a double taxation agreement with Luxembourg, which also is an OECD member state.

In addition, Liechtenstein has initialled TIEAs with Monaco and Andorra, and a DTA with San Marino - all non-members of the OECD.