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Monaco Satisfied With OECD's "Largely Compliant" Tax Rating

by Ulrika Lomas, Tax-News.com, Brussels

28 November 2013


The Principality of Monaco has taken note of its rating by the OECD as "largely compliant" with international standards on tax transparency.

Indeed, Monaco is one of 26 jurisdictions deemed by the OECD to be "largely compliant" in terms of tax transparency standards, alongside the UK and Italy. According to the Monegasque Government, this positive evaluation is recognition of the significant efforts implemented by Monaco over the course of the last few years.

In its communiqué, the Government reiterated that Monaco signed a letter of intention to join the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters on November 5. In so doing, the Principality is pursuing the policy endorsed by Prince Albert II in terms of fiscal transparency and information exchange, the Government emphasized, noting that the country has therefore positioned itself as a stakeholder in the current international movement.

TAGS: compliance | tax | tax compliance | tax avoidance | Organisation for Economic Co-operation and Development (OECD) | Monaco | Italy | standards | Tax | Tax Evasion

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