The Wall Street Journal reports that the United States has entered into a tax information sharing agreement with Monaco.
Here’s the entire post:
“We are working with countries like Monaco to ensure that the IRS has access to the information that it needs to enforce U.S. tax law,” Deputy Treasury Secretary Neil Wolin said in a statement.
Under the deal, Monaco is to provide the U.S. with information including that related to bank accounts held in the country. The U.S. will be permitted to begin seeking information on both civil and criminal matters in 2010.
“Today’s agreement serves as an example for other financial centers around the world and reflects our continued efforts to end the use of offshore accounts as a tool for tax evasion,” he said.
The U.S. has similar agreements in place with Switzerland, Brazil, Luxemburg, Gibraltar and Liechtenstein.
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