Monaco
A. Progress in the implementation of the minimum standard
Monaco has ten tax agreements in force, as reported in its response to the Peer Review questionnaire. Four of those agreements, the agreements with France, Guernsey, Liechtenstein and Luxembourg, comply with the minimum standard.
Monaco signed the MLI in 2017 and deposited its instrument of ratification on 10 January 2019. The MLI entered into force for Monaco on 1 May 2019. Monaco has not listed its agreement with Malta. This agreement will therefore not, at this stage, be modified by the MLI.
Monaco is implementing the minimum standard through the inclusion of the preamble statement and the PPT.1
The agreements modified by the MLI come into compliance with the minimum standard once the provisions of the MLI take effect.
B. Implementation issues
As mentioned above, Monaco has not listed its agreement with Malta under the MLI. Listing the agreement under the MLI or entering into bilateral renegotiations to implement the minimum standard would ensure that the minimum standard could be implemented in that non-covered agreement.
Note
← 1. For its agreements listed under the MLI, Monaco is implementing the preamble statement (Article 6 of the MLI) and the PPT (Article 7 of the MLI).