The European Council on October 11 agreed a deal with Monaco to automatically exchange information on financial accounts, as part of efforts to prevent bank deposit-related tax evasion.
The agreement will require Monaco and European Union (EU) member states to exchange information automatically to reveal non-compliance by taxpayers.
The EU has signed similar agreements with Switzerland on May 27, 2015, Liechtenstein on October 28, 2015, San Marino on December 8, 2015, and Andorra on February 12, 2016.
IMC Group