Liechtenstein
Situated in the southwest of central Europe, Liechtenstein's economy splits almost equally between services and industry. The country is small and lacks natural resources. Never-the-less it has developed its economy along the lines of a progressive and highly-industrialised free enterprise. It has more registered companies than citizens and one of the highest GDP per capita in the world. The country has a strong service sector which employs a significant portion of the labour force, the majority (54%) of which are cross-border commuters from Austria, Germany and Switzerland. Being in a customs union with Switzerland, the country has adopted the Swiss franc as its national currency. It is also a member of the European Economic Area since 1995. The country imports more than 90% of its energy requirements. A low business tax rate (flat 12.5%) along with trouble-free incorporation rules have prompted many companies to establish their offices in the country, providing 30% revenue to the state coffers. The country has faced international pressure since 2008, specifically from Germany and the United States, to enhance transparency in its banking and taxation systems. A Tax Information Exchange Agreement was signed with the US in 2008. In the same year, Liechtenstein tax affairs unleashed a flurry of investigations by the governments of numerous countries against their citizens for tax evasion. The country was identified as an uncooperative tax haven by the Financial Action task Force (FATF) on money laundering of the Organisation for Economic Co-operation and Development (OECD). Liechtenstein was removed from the OECD's grey list after the country concluded 12 bilateral information sharing agreements. By 2010, the country had signed 25 Tax Information Exchange Agreements or Double Tax Agreements. A tax agreement was also signed with the European Union (EU) in 2015 to facilitate the automatic exchange of financial information.