TIEA Ties Monaco
The Bahamas signed its second Tax Information Exchange Agreement with the Principality of Monaco on September 18 2009 Monaco is a small European nation to the south-east of France near the Italian border. The country’s chief of state is Prince Albert II, and its head of government is Minister of State Michel Roger. Like The Bahamas, tourism and financial services are the most important pillars of the small nation’s economy. Last week’s profile featured the United States, with almost 100 times the population of The Bahamas. Monaco has about a tenth of our population. Like The Bahamas it currently has no income taxes either.