background image

Automatic Financial Account Information Exchange Agreement between the EU and Monaco Initialed — Orbitax Tax News & Alerts

On 22 February 2016, officials from the European Union and Monaco initialed an agreement for the automatic exchange of financial account tax information. Under the agreement, information on the financial accounts of residents of EU Member States and Monaco will be automatically exchanged from 2018. The agreement is similar to agreements the EU has signed with Andorra, Liechtenstein, San Marino and Switzerland, and is expected to be formally signed before the summer.