# מאָנאַקאָ: פייטינג שטייער אַרויסדריי - אייראפעישער יוניאַן און די פּרינסיפּאַליטי פון מאָנאַקאָ ערשט נייַ שטייער דורכזעיקייַט העסקעם

The agreement reflects the Principality’s political will to move towards greater tax transparency.

Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, believes that: "This agreement marks the beginning of a new era between Monaco and the EU. We both aim to combat fraud for the benefit of honest taxpayers. This agreement is a step forward in achieving our aim in an efficient and fair manner".

Jean Castellini, Minister for Finance and Economy of Monaco, said: "The initialling of this agreement constitutes a further example of the policy implemented by Monaco to combat international tax avoidance and evasion, as part of its commitment to conclude agreements which respect international standards developed by both the European Union and the OECD Global Forum, in terms of the exchange of information".

Under the new agreement, member states will receive the names, addresses, tax identification numbers and dates of birth of their residents with accounts in Monaco, as well as certain other financial information, including account balances. The procedure envisaged complies with the new OECD and G20 global standard on automatic exchange of information. Stepping up information exchange will enable the tax authorities to better tackle fraudsters, at the same time acting as a deterrent for those who are tempted to hide income and assets abroad. The EU signed similar agreements in 2015 with Switzerland (יפּ / קסנומקס / קסנומקס), San Marino (יפּ / קסנומקס / קסנומקס), Liechtenstein (יפּ / קסנומקס / קסנומקס) and, this year, with Andorra (יפּ / קסנומקס / קסנומקס).