In connection with the upcoming Austrian tax reform 2012, the Austrian government has suggested that a treaty between Austria and Switzerland should be concluded. Such a treaty could stipulate that Swiss banks are required to levy a withholding tax on income earned on assets belonging to Austrian tax residents. Obviously, the tax agreement between Germany and Switzerland (signed in September 2011) should be the model for a treaty between Austria and Switzerland. It is, however, questionable whether the treaty between Germany and Switzerland is the only existing alternative, as for example, the United Kingdom and Liechtenstein have signed a special Memorandum of Understanding (MoU) according to which UK residents have the possibility to disclose information about their Liechtenstein funds to the UK tax authorities under attractive conditions. Dimitar Hristov provides an overview and an analysis of this MoU and tries to answer the question whether it could be a possible alternative for Austria.