Liechtenstein Approves Tax Treaty With Monaco

Liechtenstein's Government has approved a double taxation agreement with Monaco, according to an announcement on the principality's website.

The double taxation agreement is understood to deal with income tax and capital gains tax, and includes provisions eliminating double taxation. Liechtenstein and Monaco have already concluded a tax information exchange agreement.

Explaining its reason for entering into a double taxation agreement with Monaco, the Liechtenstein Government said it is seeking to expand its network of double taxation agreements both within the European Union and worldwide.

The double taxation agreement with Monaco will enter into force once both countries have completed their legislative procedures and exchanged diplomatic notes.