Briefing 
 

Ending EU citizens' bank secrecy in Monaco 

The European Parliament is set to endorse an EU deal with Monaco, which will make it harder for EU citizens to hide cash from the tax man in bank accounts there. Under the deal, the EU and Monaco will automatically exchange information on the bank accounts of each other's residents, starting in 2017.

The agreement ensures that Monaco will apply stricter measures, equivalent to those in place within the EU since March 2014. The agreement also complies with the 2014 global standard on the automatic exchange of financial account information promoted by the OECD.


Similar agreements have already been approved with Switzerland, Liechtenstein, San Marino and Andorra.


Procedure: Consultation

2016/0109(NLE)

Vote: Thursday, 23 June


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