As part of continuing efforts to boost transparency by multinational enterprises (MNEs), Monaco has signed the Multilateral Competent Authority Agreement for Country-by-Country Reporting (CbC MCAA), bringing the total number of signatories to 66.
Monaco today deposited its instrument of ratification for the Convention on Mutual Administrative Assistance in Tax Matters ("the Convention"). By doing so, Monaco underlines its commitment to fighting tax evasion and avoidance and takes another important step in implementing the Standard for Automatic Exchange of Financial Account Information in Tax Matters developed by the OECD and G20 countries.
Monaco today signed the Multilateral Competent Authority Agreement, which confirms its commitment to implement automatic exchange of financial account information in time to exchange in 2018.
OECD Secretary-General Angel Gurría welcomed today the Principality of Monaco’s commitment to strengthen international tax co-operation after it became the 84th jurisdiction participating in the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has released peer review reports assessing the tax systems of 13 jurisdictions for information exchange.
This report summarises the legal and regulatory framework for transparency and exchange of information for tax purposes in Monaco.
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Agreement between the Faroes and Monaco for the exchange of information relating to tax matters
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Agreement between Greenland and Monaco for the exchange of information relating to tax matters
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Agreement between Australia and Monaco for the exchange of information relating to tax matters
Since May 2009 no jurisdiction is currently listed as an unco-operative tax haven by the OECD's Committee on Fiscal Affairs.