Press Briefing on Automatic Exchange in the Principality

Today, the Minister of State, with Mr. Jean Castellini, Minister of Finance and Economy and Mr. Thierry Orsini, Director General of the Ministry of Finance and Economy, held a press briefing on the automatic exchange of tax information.

The press briefing followed the deposit with the OECD of the instrument of ratification of the Convention on Mutual Administrative Assistance in Tax Matters and the deposit with the General Secretariat of the Council of the European Union of the instrument of ratification of the Protocol, both signed by H.S.H. Prince Albert II of Monaco.

At this press conference, Mr. Castellini recalled the various stages of preparing these tax agreements. Mr. Orsini then explained the practical applications of these agreements to the journalists.

The Minister then continued by announcing that Frequently Asked Questions (FAQ) had been added to the web site of the Prince’s Government, relating to the automatic exchange of tax information. Mssrs. Castellini and Orsini then answered questions from the journalists present.

As a reminder, the Principality of Monaco agreed to implement the automatic exchange of information relating to the financial accounts of non-residents; these exchanges will begin in 2018, on information collected in 2017.

See the FAQ on the web site of the Prince’s Government: http://www.gouv.mc/Action-Gouvernementale/Monaco-a-l-International/Les-accords-en-matiere-fiscale/Foire-aux-questions-Faq-sur-l-echange-automatique-d-informations-en-matiere-fiscale

Source: Portail du Gouvernement

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