La presente informativa è resa, anche ai sensi dell’art. 13 del D. Lgs. 196/2003 “Codice in materia di protezione dei dati personali” (“Codice Privacy”) 
e degli artt. 13 e 14 del Regolamento (UE) 2016/679 (“GDPR”), a coloro che si collegano alla presente edizione online del giornale Tribuna Economica di proprietà di AFC Editore Soc. Coop. 

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Mr Gilles Tonelli, Minister of Foreign Affairs and Cooperation, and H.E. Mr Antonio Morabito, Ambassador Extraordinary and Plenipotentiary of the Italian Republic to the Principality of Monaco, signed an agreement on the exchange of information for tax purposes between Monaco and Italy. This is the 32nd agreement signed byMonaco,

and follows constructive negotiations which have been conducted since 2009 with the aim of preserving the specific natures and interests of the two countries. At the behest of His Serene Highness Prince Albert II, since 2009 Monaco has been committed to concluding agreements on the exchange of information which meet the standards developed by the OECD.

Since the first assessment of Monaco in 2010, the OECD has judged that the Principality meets the OECD standards, although it put forward recommendations regarding some aspects, such as the need for Monaco to conclude agreements with all relevant partners, including Italy.

Regular discussions held between the two countries since that time have focused on a draft tax information exchange agreement (TIEA) which conforms to the OECD template, with a supplementary provision to address double taxation issues and the question of tax residency.

 

This agreement which, once in force, will take full effect from the date of signature, enables Monaco to be immediately removed from Italian black lists linked to the signature of an agreement and is accompanied by a protocol containing commitments relating to the Italian Voluntary Disclosure Act. This will enable those who wish to do so to regularise their affairs with the relevant Italian authorities as necessary. This can be done until 30 September 2015 on the basis of the operational procedures established for Monegasque financial institutions.