Monaco signs bilateral tax agreement with United Arab Emirates

Mr Jean CASTELLINI, Minister of Finance and Economy, and H.E. Mr Mohamed Bin Hadi AL HUSSAINI, the United Arab Emirates’ Minister of State for Financial Affairs. ©Government Communication Department / Manuel Vitali

On 13 November 2021, in the presence of H.S.H. Prince Albert II, Mr Jean Castellini, Monaco’s Minister of Finance and Economy, and H.E. Mr Mohamed Bin Hadi AL HUSSAINI, the United Arab Emirates’ Minister of State for Financial Affairs, signed a bilateral tax agreement that seeks to eliminate double taxation of income and to prevent tax fraud and evasion. The signing took place during celebrations to mark the National Day of Monaco at Expo 2020 Dubai.

This is the 36^th tax agreement signed by Monaco, and follows constructive negotiations that aimed to preserve the specific nature and interests of the two countries, to promote their economic relations, and to improve their cooperation on tax issues.

At the behest of H.S.H. Prince Albert II, Monaco has, since 2009, been committed to concluding agreements on the exchange of information which meet the standards developed by the OECD. This agreement is in line with the most recent OECD model convention and complies with the measures in the tax base erosion and profit shifting (BEPS) project.

The Principality welcomes its excellent links with the United Arab Emirates and the growing relationship between the two countries.

For more information, see:

https://en.gouv.mc/Portail-du-Gouvernement/Policy-Practice/Monaco-Worldwide/International-Tax-Compliance