Monaco complete Tax Information Exchange Agreement 

 

05.03.2015

 

Since 2009 HSH Prince Albert II has been committed to concluding agreement on the exchange of tax information to meet the OECD international standards of best practice. In the following year an assessment by the OECD concluded that Monaco met the required standard, though it also noted that the Principality needed to do more to conclude agreements with its partner states.  This is the 32nd TIEA signed by Monaco and follows the TIEA recently signed in January with the UK. 

 

On the 2 March 2015 Italy and Monaco signed a Tax Information Exchange Agreement (‘TIEA’). The signing ceremony was concluded between the Italian Ambassador to Monaco, Mr Antonio Morabito, and the Monaco Minister of Foreign Affairs and Cooperation, Mr Giles Tonelli. 

The Agreement has yet to enter into force, as it will be subject to completion of the parliamentary procedures in both countries but when in force it will take effect from the date of signature ie 2 March 2015.