Category Taxation in Monaco

Australia Signs Eight Tax Agreements

April 7, 2010 International Tax CooperationTaxation in AustraliaTaxation in BahamasTaxation in Cayman IslandsTaxation in MonacoTaxation in Turks & Caicos Islands

Sydney Opera House by nightThe Australian Government has signed eight new bilateral Tax Information Exchange Agreements (TIEA) in a concentrated effort to enhance global tax transparency and reduce offshore tax evasion.

On April 6th-7th Senator Nick Sherry, Assistant Treasurer of Australia, announced the signing of TIEA agreements with The Cayman Islands, The Bahamas, Belize, Dominica, Grenada, Saint Lucia, Monaco, and the Turks and Caicos Islands. With the signing ceremonies complete, the TIEAs will be implemented upon the completion of legal ratification by both signatories. The new agreements raise Australia’s TIEA total to 22.

Explaining Australia’s pursuit to expand its TIEA network, Nick Sherry said, “As Chair of the Global Forum on Transparency and Exchange of Information, Australia is playing a leading rol...

Read More

International Tax Transparency Reviews Start

March 19, 2010 International Tax CooperationTaxation in AustraliaTaxation in CanadaTaxation in Cayman IslandsTaxation in EUTaxation in GermanyTaxation in IndiaTaxation in IrelandTaxation in MonacoTaxation in Norway

Globalforum 2009The international fight against cross-border tax evasion has taken a step forward with the initiation of a peer review group which aims to assess the progress made by nations in implementing internationally agreed standards of tax transparency.

On March 18th the Organization for Economic Cooperation and Development (OECD) announced the initiation of the first step in the most extensive and through international tax transparency assesment process that has ever been undertaken. Eighteen nations from the 91 participating members of the Global Forum on Transparency and Exchange of Information will soon undergo extensive analysis to determine the adequacy of their efforts to implement internationally agreed upon taxation standards, such as the effectiveness of the bilateral Tax Information Exch...

Read More

Tax Information Exchange Agreement Update

September 10, 2009 International Tax CooperationOffshore BankingTax HavensTaxation in AustraliaTaxation in British Virgin IslandsTaxation in CanadaTaxation in Cayman IslandsTaxation in EUTaxation in FranceTaxation in GermanyTaxation in IrelandTaxation in LiechtensteinTaxation in MonacoTaxation in New ZealandTaxation in Turks & Caicos IslandsTaxation in UKTaxation in USA  No comments

Since the April G20 summit, over 50 new TIEA agreements have been signed across the globe.

The London G20 Summit, held on the 2nd of April this year, heralded an unprecedented wave of Tax Information Exchange Agreement (TIEA). In what was described as “revolutionary” by Angel Gurría, OECD Secretary-General, the number of completed TIEAs has almost doubled since their inception in late 2000.
Since the G20 summit, and subsequent global push for greater tax transparency and compliance, the following 53 agreements have been signed.

United States – Monaco (8 September 2009)
Denmark – Turks & Caicos Islands (7 September 2009)
Netherlands – Antigua & Barbuda (2 September 2009)
Denmark – Gibraltar (2 September 2009)
Denmark – Anguilla (2 September 2009)
Germany – Liechtenstein (2 September ...

Read More

Monaco and US Sign Tax Agreement

September 9, 2009 International Tax CooperationOffshore BankingTaxation in MonacoTaxation in USA  No comments

Monaco and the US signed a bilateral Tax Information Exchange Agreement on the 8th of September.

The Taxation Information Exchange Agreement (TIEA) between the city-state of Monaco and the US will allow each jurisdiction a greater set of capabilities in fighting cross border tax evasion. The agreement will allow either nation to request bank, tax and other information from the other jurisdiction on the grounds that there have already been reasonable attempts made to obtain it by other means. The agreement also extends to allow officials from one country to enter the other for the purpose of conducting necessary interviews. Although, these capabilities are restricted to a case by case basis and have absolutely no scope “information fishing”...

Read More