On 15th July 2009, the Principality of Monaco and Belgium signed an agreement for the exchange of fiscal information between both countries.
This agreement will enable fiscal information to be exchanged on an individual basis and following a “concrete and justified” request, but will not allow “general fishing for information”, something the Principality of Monaco was particularly keen about.
Belgium is the first state with whom the Principality of Monaco has signed such an agreement. The Principality would like to point out that in London in April 2009, the G20 placed twenty or so banking centres, including Monaco, on a “grey list” from which the countries in question cannot be removed unless they sign twelve fiscal transparency agreements in accordance with the OECD standards.
Negotiations with other states are currently under way, which will enable the Principality to meet its obligations by the end of 2009.
Department of External Relations
Office of International Cooperation (+377 98 98 44 88)