The EU and Monaco have initialled a new agreement for the automatic exchange of financial account information. Formal signature is expected to take place before the summer. Member states will start collecting information from 1 January 2017 and automatic exchange will begin from 2018. Under the agreement, member states will receive the names, addresses, tax identification numbers and dates of birth of their residents with accounts in Monaco, as well as other financial and account balance information. The EU has recently signed similar agreements with Switzerland, San Marino, Liechtenstein and Andorra.
The EU and Monaco have initialled a new agreement for the automatic exchange of financial account information. Formal signature is expected to take place before the summer. Member states will start collecting information from 1 January 2017 and automatic exchange will begin from 2018. Under the agreement, member states will receive the names, addresses, tax identification numbers and dates of birth of their residents with accounts in Monaco, as well as other financial and account balance information. The EU has recently signed similar agreements with Switzerland, San Marino, Liechtenstein and Andorra.
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