Ms Josée Fecteau, Deputy Director of Legal Affairs, OECD; HE Serge Telle, Minister of State; Mr. Nicola Bonucci, Director of Legal Affairs, OECD; Mr Jean Castellini, Minister for Finance and the Economy.
The Minister of State, accompanied by the Minister of Finance and Economy, have presented to Mr Angel Gurría, Secretary General of the Organisation for Economic Co-operation and Development at La Muette, headquarters of the OECD in Paris, the instrument of ratification of the Convention on Mutual Administrative Assistance in Tax Matters, signed by HSH Prince Albert II of Monaco.
At present, 107 jurisdictions are participating in the Convention, including all G20 countries, all OECD countries, major financial centres and a growing number of developing countries. Of these 107 jurisdictions, the Convention has now entered into force in 91 countries, including Monaco.
The Convention, which was signed on October 13, 2014, will take effect in Monaco three months after its ratification, for the exchange of information on request and also for the spontaneous exchange of information.
As a reminder, the Principality of Monaco has undertaken to implement the automatic exchange of information on financial accounts to begin trading in 2018 on information collected in 2017.
On the other hand, Monaco is one of the signatories to the Multilateral Agreement between Competent Authorities on the automatic exchange of information on financial accounts, which clarifies the Convention and will take effect at the same time.
In addition, the “common reporting standard” provides that the tax administration collect from financial institutions information concerning the accounts of their non-resident customers in the Principality and automatically forward them to the tax authorities of their country of residence, while preserving the rights of the taxpayers by guaranteeing the confidential treatment of the data exchanged.
All these commitments made by the Principality of Monaco are in conformity with the wish expressed by Prince Albert to increase transparency in tax matters and all measures implemented since 2009.
Speaking ahead of his home Grand Prix this weekend, Ferrari’s Charles Leclerc says that he believes the “poor luck” he has experienced in Monaco, and more recently in Barcelona, will turn around.
The Strategic Council for Attractiveness has been reinstated, spurred by the appointment of Frédéric Genta as Secretary General, with a goal of enticing new investment to the Principality.
While attending the Monte-Carlo Fashion Awards with her daughter Gabriella, Princess Charlene has told local media that she now feels “serene”, although still fragile.
MonacoTech has announced that one of the companies they support, Yachtneeds, has just raised €1.25 million in funding, allowing for a major expansion of the business starting this summer.
Speaking ahead of his home Grand Prix this weekend, Ferrari’s Charles Leclerc says that he believes the “poor luck” he has experienced in Monaco, and more recently in Barcelona, will turn around.
With the season over, the focus of fans and of sporting directors across Europe has turned to the upcoming transfer window, which is already whirring into action.
An advanced premier screening of the new documentary film on legendary Formula 1 driver Sir Jackie Stewart saw both the man himself and Prince Albert II in attendance at One Monte-Carlo.
Decisions taken by the Automobile Club of Monaco (ACM) back in January, when the evolution of the pandemic was unclear, will impact this weekend’s Monaco Grand Prix, notably meaning no fan zones.
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Monaco has initiated a declaration highlighting the important role that sport and physical activity played during the coronavirus crisis and calling on all countries to include these in their Covid-19 recovery plans.
Monaco’s Hugo Micallef has signed a multi-year promotional contract with Top Rank and will be making his professional boxing debut in September at a match in Paris.