Prevention of Treaty Abuse – Second Peer Review Report on Treaty Shopping

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. Its agreement with Liechtenstein complies with the minimum standard.

Monaco signed the MLI in 2017 and deposited its instrument of ratification on 10 January 2019, listing eight tax agreements.1 The MLI entered into force for Monaco on 1 May 2019.

Monaco is implementing the minimum standard through the inclusion of the preamble statement and the PPT.2

The agreements that will be modified by the MLI will come into compliance with the minimum standard once the provisions of the MLI take effect. Some agreements listed under the MLI are expected to become compliant with the minimum standard by the end of 2019.

B. Implementation issues

No jurisdiction has raised any concerns about their agreements with Monaco.

Summary of the jurisdiction response – Monaco

 

	Treaty partners	Compliance with the standard	If compliant, the alternative implemented	Signature of a complying instrument	The alternative implemented through the complying instrument (if not the MLI)	Comments
1	France	No	N/A	Yes	N/A
2	Guernsey	No	N/A	Yes	N/A
3	Liechtenstein	Yes	PPT alone	N/A	N/A
4	Luxembourg	No	N/A	Yes	N/A
5	Mali*	No	N/A	Yes	N/A
6	Malta	No	N/A	No	N/A
7	Mauritius	No	N/A	Yes	N/A
8	Qatar	No	N/A	Yes	N/A
9	Saint Kitts and Nevis	No	N/A	Yes	N/A
10	Seychelles	No	N/A	Yes	N/A