Monaco: Revised AEOI guidance

Monaco: Revised AEOI guidance

The automatic exchange of information (AEOI) guidance has been updated for financial institutions in Monaco.


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The revised guidance includes additional requirements:

  • For financial institutions—to undertake measures to avoid circumvention of reporting obligations by individuals or intermediaries
  • For management companies—to submit a letter to the tax authorities if they do not have any reportable accounts
  • For financial institutions—to confirm that a register of steps taken and evidence found during performance of due diligence regarding individuals and intermediaries are retained for a period of at least five years after the year of the declaration

Read a May 2020 report [PDF 74 KB] prepared by the KPMG member firm in France

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