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EU and Monaco Sign Agreement for Automatic Exchange of Financial Account Information — Orbitax Tax News & Alerts

On 12 July 2016, officials from the European Union and Monaco signed an agreement for the automatic exchange of financial account tax information. Under the agreement, information on the financial accounts of residents of EU Member States and Monaco will be automatically exchanged from 2018. The agreement is similar to agreements the EU has signed with Andorra, Liechtenstein, San Marino and Switzerland.