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December 15, 2016updated 24 Jan 2022 1:55pm

News brief: Monaco commits to implement automatic exchange of financial account information

By sarajuddin isar

Monaco has ratified the OECD’s convention on Mutual Administrative Assistance in Tax Matters (the Convention). This is the first step towards Monaco implementing the Standards for Automatic Exchange of Financial Account Information in Tax Matters and the automatic exchange of Country-by-Country Reports under the OECD’s BEPS project.

The Convention will come into force on 1 April 2017 and Monaco has committed to commence automatic exchange of information in 2018.

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