“Monaco, which was for a long time considered a black sheep because of its lack of transparency, is still clouded by its very attractive financial legislation. It is a haven for its inhabitants, who don’t pay income tax or inheritance tax. That is, with the notable exception of U.S. and also French nationals, as per a convention signed 50 years ago signed by General de Gaulle.  Today pressure is mounting on Monaco. The world powers have launched a new war on tax evasion. During their recent Northern Ireland meeting, the members of the G8 agreed to an automatic exchange of information for tax purposes.”

http://www.worldcrunch.com/business-finance/in-monaco-between-the-real-economy-and-a-tax-haven-black-list/monaco-tax-haven-evasion-fiscal-crisis/c2s12488/

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