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