The agreement between the Czech Republic and the Principality of Monaco for the exchange of tax Information specifies the type of information that both countries are obliged to provide in the event of a request. The agreement also sets out the procedural requirements under which the exchange will take place.
At the issuing of the request, the information that is deemed relevant for determining, assessing and collecting taxes on corporate and personal income, property taxes, secure payment of these taxes or information for an investigation and prosecution of tax offenses may be provided.
Information will be provided on the basis of a formal request addressed to the other country, regardless of whether the conduct for which the information is requested is considered criminal or not in the country receiving the request.
However, the party receiving the request can also refuse to provide the information in the case that it would reveal confidential communications relating to the provision of legal advice between a client, an attorney, solicitor or other recognised legal representative.
The agreement, which is valid from the beginning of March, may also be applied to facts arising prior to the agreement taking effect.