A Monegasque delegation in Lisbon for the 16th plenary meeting of the OECD Global Forum

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A Monegasque delegation travelled to Lisbon (Portugal) for the 16th Global Forum plenary meeting on transparency and exchange of information for tax purposes of the Organisation for Economic Co-operation and Development (OECD), from Tuesday 28 November to 1 December 2023.

This meeting provided an opportunity to focus on the collective achievements of the Global Forum over the last 15 years of international fiscal cooperation to fight tax avoidance and for tax transparency, international norms to which the Principality of Monaco is fully committed. Discussions also looked at the future work of the Global Forum, to ensure the effective implementation of exchange of information standards.

The morning of the first day was broadcast to the public, with the rest of the meetings being reserved for members, of which Monaco has been one since 2009.

At this meeting the OECD also presented points to note for current evaluations by jurisdictions, including the Principality, concerning data confidentiality and security as well as the efficiency of automatic information exchanges for tax purposes. The meeting was reminded that the result of these evaluations is to be published in 2025.

The Global Forum now has 170 members. It has shown that international cooperation with a large number of members results in greater fairness while ensuring the conditions for fair competition between all jurisdictions.

Finally, the meeting also saw the Principality of Monaco declare its intention to take on the updating of the Declaration of Common Standards including the new Crypto-Asset Reporting Framework (CARF).

For more information on this event and the OECD report: https://www.oecd.org/fr/fiscalite/transparence/documents/reunion-pleniere-forum-mondial-2023.htm