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Germany's Merkel, prince of Monaco discuss cooperation on tax

Germany's Merkel, prince of Monaco discuss cooperation on tax

German Chancellor Angela Merkel called on Monaco to abide by international principles on taxation in a meeting Wednesday with the principality's ruler, the German government said.
Prince Albert II met Merkel in a long-scheduled meeting that coincided with a large-scale German investigation of tax evasion by Germans who allegedly squirreled money away in tiny Liechtenstein.
Liechtenstein and Monaco, along with Andorra, feature on a list of "uncooperative tax havens" drawn up by the Organization for Economic Cooperation and Development.
Merkel expressed her expectation that Monaco respect the organization's principles of fair behavior on taxation, a government spokesman said on customary condition of anonymity.
Albert pledged a cooperation agreement on the issue between German and Monaco authorities and an improved exchange of information in pursuing tax fraud, money laundering and corruption, the spokesman added.


Updated : 2021-05-14 04:22 GMT+08:00