Whether climate litigation, foundation law, tax proceedings, or international tax policy – current research at the Liechtenstein Business Law School addresses key legal challenges of our time. In the first half of 2025, several academic publications were released that stand out not only for their scholarly depth and practical relevance but also for gaining international visibility.

We present a selection of these works below. At the end of this article, you will also find a link to another recent publication related to international philanthropy.

Climate Litigation: A Risk for Companies?

Around the world, climate lawsuits against companies are on the rise – especially targeting major greenhouse gas emitters. A Dutch court ruling against Shell in 2021 marked a turning point: for the first time, a company was legally required to take specific climate protection measures.
A recent expert article by Bernhard Burtscher, Professor of Banking and Financial Market Law, shows that liability and legal expenses insurance often do not provide full protection against such climate litigation.

Burtscher, B. (2025). Versicherungsschutz für Klimaklagen. Versicherung in Recht und Wirtschaft (VRW), 1(1), 4-13.

Global Minimum Tax Under Scrutiny: New Study Highlights Weaknesses in Tax Neutrality

At the 4th International Conference on Fiscal Policy and Economic Development in Doha, Qatar, Niklas Kaiser, PhD candidate in Business Taxation and Tax Law, presented the study “Tax Neutrality Schemes and GloBE: Interaction, Impact & Options for Policy Reform.” The central question: Does the OECD’s Global Minimum Tax (GloBE) promote neutral corporate taxation or does it introduce new distortions? The analysis compares the GloBE framework with a tax-neutral benchmark system known as the Allowance for Corporate Equity (ACE), which is applied in countries such as Liechtenstein. The findings show that, in particular, the Substance-Based Income Exclusion under GloBE, intended to reward genuine economic activity, creates systematic disparities across industries. Conclusion of the study: While the Global Minimum Tax includes elements that conceptually align with the principle of tax neutrality, it ultimately produces distortive outcomes, potentially leading to negative consequences for entire economies.

Kaiser, N. (2025). Tax Neutrality Schemes and GloBE: Interaction, Impact & Options for Policy Reform. Presented at the 4th Annual Conference on Fiscal Policy and Economic Development, Doha, Qatar.

How Modern Tax Audits Are Changing – and Why Good Preparation Is Crucial

In his contribution to the new handbook on the Austrian Federal Fiscal Code (BAO), Mag. Dr. Günther Schaunig, together with two colleagues, examines how tax audits in Austria are evolving – and what consequences they may entail. The article explores various tax audit procedures, the corresponding administrative processes, and the rights and obligations of taxpayers. Special attention is given to the criminal law dimension associated with tax audits. The growing use of digital technologies by the tax authorities is also discussed.

The article underscores the importance of professional preparation: in many cases, audit findings can lead to criminal tax proceedings – with high costs and far-reaching consequences. The text makes one thing clear: an integrated perspective on tax risks is now essential.

Gurtner, W., Papst, S., & Schaunig, G. (2025). Aussenprüfungen und verwandte Massnahmen im Abgaben- und angrenzenden Finanzstrafverfahren. In C. Endfellner & M. Puchinger (Eds.), BAO - Bundesabgabenordnung (4 ed., pp. 175-224). Graz, Austria: dbv-Verlag.

The “Golden Mean” Between Fact-Finding in Criminal Proceedings and the Protection of Fundamental Rights

House searches and seizures are key instruments in criminal proceedings – especially in complex white-collar crime cases. Today, such investigations are almost unimaginable without digital evidence, particularly from large datasets (“Big Data”). But how can modern investigative methods be reconciled with the protection of fundamental rights?

This question is at the heart of Mag. Dr. Günther Schaunig’s latest article. He analyses the requirements set by the European Convention on Human Rights (ECHR) for such coercive measures – particularly regarding procedural fairness and protection against state interference. He shows how easily fundamental rights can be violated – and how careful legal application can help prevent this.

A particularly practical aspect: the analysis is based on the case law of the European Court of Human Rights, which also serves as an important point of reference for courts in Liechtenstein.

Schaunig, G. (2025). House Searches and Seizures in Criminal Proceedings: The Perspective of an Effective Protection of Fundamental Rights with a Focus on Mobile Devices and Data. University of Vienna Law Review, 9(1), 20-54.
 

Special Power of Attorney for Amendments to Foundation Deeds: Commentary on the Decision of the Austrian Supreme Court

Marco Lettenbichler has published a widely noted case commentary on a decision by the Austrian Supreme Court (OGH) in the Österreichische Jurist:innen Zeitung. His analysis highlights the necessity of a special power of attorney for amendments to foundation deeds and draws comparative legal conclusions with Liechtenstein foundation law. The publication underscores the high relevance of research at the University of Liechtenstein in the field of foundation law.

Lettenbichler, M. (2025). Spezialvollmacht und Änderung der Stiftungserklärung (Anmerkung zu OGH 20. 9. 2024, 6 Ob 162/23a). Österreichische Jurist:innenzeitung(5), 305-306.

New Role of Beneficiaries in Trust Law – Reform Proposal Sparks Debate

As part of the planned reform of Liechtenstein’s trust law, the position of beneficiaries has moved to the centre of the discussion. In a recent article published in the Journal für Erbrecht und Vermögensnachfolge (JEV), Prof. Dr. Alexandra Butterstein, LL.M., Professor of Corporate, Foundation and Trust Law, analyses the proposed introduction of an “information rights holder”. This new legal figure is intended to address existing governance gaps in trusts and enhance Liechtenstein’s international competitiveness.

However, the proposed solution raises broader questions about the legal status of beneficiaries. Instead of strengthening their rights, the reform shifts control to the information rights holder, thereby deviating from the original model based on the Anglo-Saxon reception. Alexandra Butterstein argues for reconsidering this departure from the traditional Beneficiary Principle and advocates instead for legally reinforcing the position of beneficiaries – optionally supplemented by the role of the information rights holder.

Butterstein, A. (2025). Die Rechtsstellung der Begünstigten in der geplanten Reform des liechtensteinischen Trustrechts. Journal für Erbrecht und Vermögensnachfolge (JEV),1 (2025).

Study on the Best Locations for Charitable Foundations and Philanthropic Engagement 

In addition, Prof. Dr. Alexandra Butterstein and Prof. Dr. Marc Gottschald contributed to a study on the best locations for charitable foundations and philanthropic engagement. Further details can be found in the following article:
In First Place Worldwide: Liechtenstein Once Again Best Location for Philanthropic Engagement