On December 17, 2016 the OECD issued a press release announcing that on December 14, 2016 Monaco deposited its instrument of ratification for the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters. Monaco signed the Convention on October 13, 2014.

Based on the overview of Jurisdictions Participating in the Convention on Mutual Administrative Assistance in Tax Matters as available on the website of the OECD, the Convention is expected to enter into force on April 1, 2016 with respect to Monaco (but possibly the OECD means April 1, 2017 instead of April 1, 2016).

According to the OECD, Monaco is committed to implement automatic exchange of financial account information in time to commence exchanges in 2018.

Click here to be forwarded to the overview of Jurisdictions Participating in the Convention on Mutual Administrative Assistance in Tax Matters (Status as per December 14, 2016) as available on the website of the OECD, which will open in a new window.

Click here to be forwarded to the amended Convention on Mutual Administrative Assistance in Tax Matters as available on the website of the OECD, which will open in a new window.

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