Considerations on COM(2016)200 - Signing and provisional application, of the Amending Protocol to the Agreement with Monaco providing for measures equivalent to those laid down in Council Directive 2003/48/EC - Main contents
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dossier | COM(2016)200 - Signing and provisional application, of the Amending Protocol to the Agreement with Monaco providing for measures equivalent ... |
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document | COM(2016)200 |
date | July 12, 2016 |
(2) | The text of the Amending Protocol to the Agreement (the ‘Amending Protocol’) which is the result of the negotiations, duly reflects the negotiating directives issued by the Council, as it aligns the Agreement with the latest developments at international level concerning the automatic exchange of information, namely, with the Global Standard for automatic exchange of financial account information in tax matters developed by the Organisation for Economic Cooperation and Development (OECD). The Union, the Member States and the Principality of Monaco have actively participated in the work of the Global Forum of the OECD to support the development and implementation of that Global Standard. The text of the Agreement, as amended by the Amending Protocol, is the legal basis for implementing the Global Standard in the relations between the Union and the Principality of Monaco. |
(3) | The Amending Protocol should be signed. |
(4) | In view of orientations expressed by the Principality of Monaco in the framework of the Global Forum of the OECD, the Amending Protocol should be applied on a provisional basis from 1 January 2017, pending completion of the procedures for its conclusion, |