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New agreement on automatic exchange of information between Monaco and the EU

By September 1, 2016October 1st, 2016Monaco Banking Law

On February 22, 2016, the EU and Monaco signed an Agreement against fraud and tax evasion. The Agreement implements as of Jan 1, 2018 the automatic exchange of information standard for financial accounts in accordance with the OECD (Common Reporting Standard or CRS) to improve international tax compliance.
The Agreement lists data to be disclosed under the exchange of information in order for the authorities to be able to identify correctly and unequivocally taxpayers, administer and enforce tax laws in cross-border situations, assess the likelihood of tax evasion and avoid unnecessary further investigations.

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Indira Zeenni – Remi Delforge