The Principality of Monaco participates in the 11th Meeting of Competent Authorities of the OECD Global Forum

On May 6th and 7th, 2024, the Principality of Monaco participated in the 11th meeting of Competent Authorities of the Global Forum on Transparency and Exchange of Information for Tax Purposes of the Organisation for Economic Co-operation and Development (OECD) in Bridgetown (Barbados), which gathered over 200 delegates from around the world. The Principality was represented by the Department of Finance and the Economy. Competent Authorities meetings provide members of the Global Forum with the opportunity to come together to share their experiences in information exchange, both on request (EOI) and automatic (AEOI), and to benefit from updates on the Global Forum’s tools in cooperation and international standards.

During these two days, the OECD secretariat notably presented recent amendments to the exchange of information standards resulting from the new commentary on Article 26 of the Model Tax Convention, the new Crypto-Asset Reporting Standard, and the revised Common Reporting Standard. Among other notable subjects, key points were presented for successfully preparing for the peer review of the effectiveness of AEOI, which, as a reminder, will be published for all jurisdictions in 2025.

This participation in OECD meetings fully aligns with monitoring developments in international standards for tax transparency, in accordance with commitments made by the Principality of Monaco.