Monaco was an active participant in the Global Forum on Transparency and Exchange of Information for Tax Purposes of the Organisation for Economic Co-operation and Development (OECD) that took place in Seville last week.

The Forum brought together high-level international bodies and delegates from over 100 member jurisdictions. The Principality was represented by Mrs Laura Greenwood-Repiquet, Messrs Romain Bugnicourt and Pierre-Jean Douvier from the Department of Finance and Economy.

Discussions focused on progress made and upcoming work on exchanges on request and automatic exchange of tax information and, in particular, the new tax transparency framework for crypto-assets and amendments to the Common Standard of Declaration (NCD) of the automatic exchange of information.

In his introductory remarks, the Secretary-General of the OECD, Mr. Mathias Cormann, said that “The Global Forum continues to shape the international landscape of tax transparency”.

It was on this occasion that the OECD published its 2022 Automatic Exchange of Information (AEOI) Peer Review Report. This report confirmed that Monaco not only had its legal framework “in place” and compliant with OECD requirements, but was also “on line” regarding the effectiveness in the implementation of EAI standards in practice.

The Prince’s Government said it was delighted with these excellent ratings, which attest to the Principality’s deep attachment to compliance with the international standards of the OECD and the European Union in terms of tax transparency, whether in the exchange of Information on Request, the Automatic Exchange of Information (AEI) or BEPS (Base Erosion and Profit Shifting Plan).

For more information on this event and the OECD report:

PHOTO: Monaco’s delegates to Forum

ORIGINAL SOURCE & PHOTO: Monaco Government Press Service