The European Parliament voted on 15 June to adopt an amended agreement providing for automatic exchange of financial account information between EU member states and Monaco. This exchange will begin in 2018 for information collected since 1 January 2017. The new arrangement upgrades the 2004 agreement, which required Monaco to apply measures equivalent to those in the EU Savings Directive. The agreement must now be authorised by the Council of the EU and formally ratified.
The European Parliament voted on 15 June to adopt an amended agreement providing for automatic exchange of financial account information between EU member states and Monaco. This exchange will begin in 2018 for information collected since 1 January 2017. The new arrangement upgrades the 2004 agreement, which required Monaco to apply measures equivalent to those in the EU Savings Directive. The agreement must now be authorised by the Council of the EU and formally ratified.
