A Monegasque delegation in Asuncion (Paraguay) for the 17th plenary meeting of the OECD Global Forum

From November 25 to 29, a Monegasque delegation participated in the 17th plenary meeting of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes. This international event brought together representatives from over 110 jurisdictions and 13 international organizations to exchange views on the progress and challenges in transparency and tax cooperation.

On this occasion, the OECD presented the major advancements of 2024 and provided an update on ongoing assessments regarding the effective implementation of international standards related to the automatic exchange of tax information (AEOI). As a reminder, in 2022 the OECD recognized that Monaco had a “framework in place” and an “online” implementation in line with the standard (https://www.gouv.mc/A-la-Une-du-Portail/La-Principaute-de Monaco-participe-a-la-15eme-reunion-pleniere-du-Forum-mondial-de-l-OCDE). The Principality hosted OECD evaluators last July to continue its assessment of the effectiveness of Monaco’s operational framework for AEOI. The Princely Government is now awaiting the conclusions that will be presented later by the OECD Global Forum.

During this plenary meeting, discussions also focused on future evaluations of the Global Forum, aimed at ensuring the effective implementation of the standards for exchange of information on request (EOIR), as well as data security and confidentiality (DSC). As a reminder, Monaco has been considered “compliant” with international EOIR standards since 2018 and continues to ensure timely and relevant responses to its partners.

Finally, on this occasion, Monaco submitted an addendum to the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (AMAC NCD), further strengthening its cooperation with its partners, marking an additional step in aligning Monaco’s framework with the evolving international standards.

For more information on this event and the OECD reports, please visit the official OECD website:
https://web-archive.oecd.org/tax/transparency/documents/2024-global-forum-plenary-meeting.htm