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EU boosts tax co-operation with Andorra, Liechtenstein, Monaco, and San Marino

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The Commission has signed amending protocols enhancing the existing tax cooperation agreements with Andorra, Liechtenstein, Monaco, and San Marino, marking a significant step in the fight against tax fraud and evasion. These updates are aimed at aligning the agreements with the latest EU Directive on Administrative Cooperation (DAC) and OECD standards. They expand the automatic exchange of financial account information to include electronic money products and digital currencies and strengthen the due diligence and reporting requirements.

Since 2015, the EU has engaged in such exchanges, which are based on the OECD's Common Reporting Standard, promoting transparency and international tax cooperation. Recent updates to these standards necessitated the new amendments, which received unanimous Council approval. A similar amending protocol with Switzerland is expected soon. Once ratified, all four protocols are anticipated to enter into force on 1 January 2026, reinforcing the EU's leadership in ensuring fair and transparent tax practices globally.

Further information on the amended agreements on the EU's boosting tax cooperation is available here.

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