Weather
Monaco, MC
clear sky
10.3 ° C
12 °
7.8 °
50%
8.2kmh
0%
Sun
14 °
Mon
15 °
Tue
15 °
Wed
16 °
Thu
14 °
Breaking News

Transport disruptions expected to continue as union strikes roll on throughout France

Monaco not on tax haven list, fully compliant

Monaco not on tax haven list, fully compliant

By Staff Writer - December 12, 2017

Photo: Monaco Life
Photo: Monaco Life

The Government has pointed out that Monaco has not appeared on any of the three lists of problematic fiscal jurisdictions as published by the Council of Europe on Tuesday, December 5. A total of 92 jurisdictions were listed.

Monaco was recognised as “largely compliant” in terms of transparency four years ago, at the World Forum of the OCDE held in Jakarta. Furthermore, Monaco’s economic model is “onshore”, the Monaco government said in its statement published on Wednesday, December 6. What makes the Principality rich is the wealth of its residents, who live and consume in Monaco, plus the VAT revenues produced in accordance with an agreement with France.

From May 17, 2016, Monaco has applied the necessary measures to combat the erosion of the tax base and transfer of profits, the statement said, adding, “The Government states with satisfaction the recognition of the work so far accomplished and will pursue future actions to maintain its conformity to international standards in these matters.”


READ ALSO

Monaco Minister of Finance: Non-residents and the exchange of financial information

shares
SHARE
Previous articleDeath announced in Monaco of Otto Kern, top couturier
Next articleMonaco uses UN address to push oceans agenda

daily

December 13, 2019 | Business & Finance

The IUM inaugurates its new premises

Cassandra Tanti

The architecturally exciting new home of the International University of Monaco has been officially inaugurated by H.S.H. Prince Albert II and National Council President Stéphane Valeri. 

0
December 11, 2019 | Business & Finance

Intimate photos of daily life at the Palace

Stephanie Horsman

A new photo book paying tribute to the 126 people who work behind the scenes at the Prince’s Palace and his private home, Roc Agel, has been released.

0
December 10, 2019 | Business & Finance

Red Cross entities unite

Cassandra Tanti

Prince Albert has joined a gathering of the entire Red Cross Movement in Geneva for a conference under the theme: ‘Acting today to shape the world of tomorrow’.

0
December 9, 2019 | Business & Finance

Monaco receives four new ambassadors

Cassandra Tanti

Monaco now has four new Ambassadors from Belarus, Malayia, Mali and the European Union.

0