UniCredit Bank Czech Republic and Slovakia,a.s.
Summary:
Tax Information Exchange Agreement (TIEA) between Monaco and the Czech Republic has been signed
Thu, 28/08/2014
Dear Client,
The Principality of Monaco and the Czech Republic signed a new Tax Information Exchange Agreement (TIEA) which allows checking whether the income or assets of Czech taxpayers were properly taxed. Competent authority of contracting states will provide information regarding proper detection, assessment and assertion of payment of taxes upon request.
The Czech Republic has responded to the need to enhance the mutual exchange of information with jurisdictions with preferential tax regimes.
The treaty will enter into force after the Parliament’s approval and President’s signature.
Impact on investors: Investors will benefit from more efficient mutual exchange of tax information between Monaco and the Czech Republic.