Harmful Tax Practices – 2017 Peer Review Reports on the Exchange of Information on Tax Rulings

Monaco

Monaco has met the terms of reference (ToR) for the calendar year 2017 (year in review) that can be met in the absence of rulings being issued and no recommendation is made.

Monaco does not issue any type of ruling within the scope of the transparency framework. Therefore, Monaco has not issued any specific decision to a taxpayer within the scope of the five types of rulings subject to this framework. In the event that Monaco puts in place the administrative process to issue rulings within the scope of the transparency framework, Monaco notes that it would implement the transparency framework obligations.

As no rulings were issued, no exchange of information was required. Therefore, no peer input was received in respect of exchanges of information on rulings received from Monaco.

Introduction

903.  This peer review covers Monaco’s implementation of the BEPS Action 5 transparency framework for the year 2017. The report has four parts, each relating to a key part of the ToR. Each part is discussed in turn. A summary of recommendations is included at the end of this report.

A. The information gathering process

904.  As no rulings are issued, this section is not assessed.

B. The exchange of information

905.  As no rulings are issued, this section is not assessed.

C. Statistics (ToR IV)

906.  As no rulings are issued, no statistical data can be reported.

D. Matters related to intellectual property regimes (ToR I.4.1.3)

907.  Monaco does not offer an intellectual property regime for which transparency requirements under the Action 5 Report (OECD, 2015) were imposed.

Summary of recommendations on implementation of the transparency framework

 

Aspect of implementation of the transparency framework that should be improved	Recommendation for improvement
	No recommendations are made.

Reference

OECD (2015), Countering Harmful Tax Practices More Effectively, Taking into Account Transparency and Substance, Action 5 - 2015 Final Report, OECD/G20 Base Erosion and Profit Shifting Project, OECD Publishing, Paris. https://doi.org/10.1787/9789264241190-en.