Liechtenstein fights back against tax probe

Liechtenstein is fighting back against the global scrutiny into its banking procedures, after a number of countries - including Ireland - began probing citizens who may be evading tax through Liechtenstein accounts.

Foreigners are allowed to invest money in accounts wherever they choose but they are obliged to inform the authorities in the country where they pay tax.

However Liechtenstein, as well as Andorra and Monaco, are considered uncooperative in terms of operating tax havens, according to the Organisation for Economic Cooperation and Development.