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REPORT (COM(2025)0404 – C100202/2025 – 2025/0219(NLE))

On the proposal for a Council decision on the conclusion, on behalf of the Union, of the Amending Protocol to the Agreement between the European Union and the Principality of Monaco on the exchange of financial account information to improve international tax compliance in accordance with the Standard for Automatic Exchange of Financial Account Information in Tax Matters developed by the Organisation for Economic Cooperation and Development (OECD)

A-10-2025-0198

Committee on Economic and Monetary Affairs · Rapporteur: Kinga Kollár

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✦ In short · AI summary of this text, generated 4 Sept 2026

Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.

Parliament approves the conclusion of the Amending Protocol to the EU–Monaco agreement on exchanging financial account information for tax compliance, aligning it with updated OECD and EU rules.

Committee position. The rapporteur proposes that Parliament approves the proposal without amendments, under a simplified procedure.

Key points

  1. Approves the conclusion of the Amending Protocol to the Agreement between the EU and Monaco on the exchange of financial account information.
  2. The Amending Protocol updates the agreement to align with the revised Common Reporting Standard (CRS) and EU rules (DAC8), extending scope to electronic money and central bank digital currencies.
  3. Updates data protection references, replacing Directive 95/46/EC with GDPR and adding safeguards for personal data since Monaco lacks an adequacy decision.
  4. The modified CRS rules apply from 1 January 2026, and corresponding DAC8 provisions apply in the EU from that date.

Who is affected

  • EU member states and Monaco, which exchange financial account information automatically under the agreement.
  • Financial institutions in the EU and Monaco handling electronic money and central bank digital currencies, now within reporting scope.

Figures and deadlines

  • 1 January 2026: date from which modified CRS rules and corresponding DAC8 provisions apply.

Legal basis: Article 115, Article 218(6), second subparagraph, point (b), and Article 218(8), second subparagraph, of the Treaty on the Functioning of the European Union