Malta and Monaco sign protocol updating the 2018 Double Taxation Agreement
Deputy Prime Minister and Minister for Foreign Affairs and Tourism Ian Borg concluded a two-day visit to the Principality of Monaco, including high-level talks with the Minister of State, Christophe Mirmand, the Foreign Affairs Minister, Isabelle Berro-Amadeï, and other top government officials.
Areas of mutual interest to Malta and Monaco, including tourism and cruising, yachting, the blue economy and digital innovation were high on the agenda of the meetings with Minister Mirmand, the head of Monaco’s Government, and Minister Berro-Amadeï. In this regard, Dr Borg discussed opportunities for new partnerships, capacity building and sharing of best practices between the authorities and commercial stakeholders of the nations.
“Malta and Monaco constantly punch above their weight in global influence, especially in the maritime sector, with our respective strategic Mediterranean locations, maritime heritage, and a shared commitment to quality and sustainability, despite being small states. This visit reflects the enduring partnership between our countries – we are primary examples of how small states can thrive through innovation and collaboration, while safeguarding their identity, heritage, and environment,” Dr Borg said.
The Maltese Deputy Prime Minister also met with Monaco’s Minister of Finance and Economy Pierre-André Chiappori, for an economic presentation with the participation of representatives of several Monegasque entities, including the Department of Attractiveness, the Tourism and Convention Authority, the Monaco Economic Board, Cluster Yachting Monaco and Monaco Telecom.
During the visit, Deputy Prime Minister Borg and Minister Chiappori signed a Protocol updating the 2018 Bilateral Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion between the two states. The Protocol is updating the Agreement to reflect the latest international tax standards, whilst strengthening cooperation between the two countries with clearer safeguards and refined procedures, ensuring increased certainty for taxpayers and administrations alike.
In Monaco, the Maltese delegation also met with the Minister of Public Works, the Environment and Urban Development, Céline Caron-Dagioni, for talks on environmental and public infrastructure projects in the two countries.
“By working together, Malta and Monaco can continue to lead by example, showing how small states can innovate, adapt and thrive in an increasingly unpredictable geopolitical reality,” Dr Borg noted at the end of the visit.
Diplomatic relations between Malta and the Principality of Monaco were formally established on 11th April 2001.
Photo: MFT
