On 12 March 2008, the Prime Minister presented the cornerstones of the planned tax reform on the annual tax expert meeting in Vaduz. He stated that the goal of the reform is taxation of citizens that is as transparent and simple as possible. The income earned on the markets should be taxed only once over the course of the life cycle, and natural and legal persons should be treated equally wherever possible. The tax system will be updated in accordance with the most recent findings of international tax research, taking into account the changed economic and legal environments in Liechtenstein and abroad.