Monaco attends the 10th OECD Global Forum Competent Authorities Conference

Déplacement M. Douvier et M. Bugnicourt

On 15 and 16 May 2023, the Principality of Monaco attended the 10^th Global Forum Competent Authorities Conference on transparency and exchanges of tax information of the Organisation for Economic Co-operation and Development (OECD), in Tbilisi, Georgia.

For the first time after three years of online conferences, Competent Authorities from around a hundred jurisdictions came together at a physical event to strengthen ties and enhance their cooperation.

The Principality of Monaco was represented by Messrs Pierre-Jean DOUVIER and Romain BUGNICOURT from the Ministry of Finance and Economy.

Over the two days, the OECD secretariat outlined the standards to be adhered to, and the jurisdictions presented their feedback, particularly in the area of best practices for the exchange of information and data confidentiality, but also on the quality of information exchanged and the efficacy of information exchanges, compliance controls for financial institutions, and the use of data.

The Conference also discussed the impact of work by the Financial Action Task Force (FATF) concerning beneficial owner information on OECD standards.

The Principality of Monaco remains fully engaged with the work of the OECD and reaffirms its commitment to meeting the highest international standards of tax cooperation and transparency.