Tax And Monaco

2006-10-04T20:43:00.000-07:00

Europe's number one tax haven Monaco is to start collating and publishing figures showing it's GDP for the first time.

YourMonaco.com, who produce an independent travel guide for Monaco and Monte Carlo, say that those who are considering moving to Monaco because of her zero income tax policy have nothing to worry about.

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'This is much more about Prince Albert pushing ahead with his agenda on the environment and world affairs than it is Monaco's tax policy', they claim.

Prince Albert became ruler of Monaco just over a year ago, after the passing of his father Prince Rainier, who transformed the Principality into the world's best known tax haven in the fifty years he was in charge.

'Prince Albert is much more interested in world affairs as he knows the future of Monaco as a tax haven is safe', Henri Boulanger, YourMonaco's spokesman, adds. 'The last year has seen him going to the North Pole to try to show other world leaders that the environment is one of the top issues they should be addressing, and the publishing of Monaco's GDP and Gross National Income statistics will allow him to have Monaco play a full and active role at the United Nations. For example Monaco will know how much they should be contributing to the United Nations Millennium for Development project, and other overseas projects'.

Recognising that collecting financial information could put off wealthy individuals moving to Monaco, the government has told those businessmen taking part that all information will be kept confidential, and will not be used for fiscal purposes. Monaco and The EU

Political analysts might see the beginning of information gathering in Monaco as the start of a process to join the EU.

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2006-10-03T04:58:00.000-07:00

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Money and The Law

Tax And Monaco

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