TAX CONVENTION BETWEEN FRANCE AND THE PRINCIPALITY OF MONACO

View of Monaco

Signed in Paris on May 18, 1963, approved by the law n° 63-817 of August 6, 1963
(OJ of August 8, 1963),
come into effect on September 1, 1963
and published by the decree n° 63-982 of September 24, 1963
(OJ of September 27, 1963 and Rectificatif with the OJ of December 20, 1963)
Protocol of signature and Exchange of letters of May 18, 1963,
published under the same conditions as Convention
Exchange of letters of 9 December 1966, published by the decree n° 67-139 of February 18, 1967 (OJ of February 24, 1967)

Exchange of letters of December 9, 1966, published by the decree n° 68-250 of the 29 February 1968

(OJ of March 21, 1968) modified by the Endorsement of 25 June 1969, ratified 1st and July 12, 1969, come into effect on 1 August 1969 and published by the decree n° 69-1155 of December 18, 1969 (OJ of December 25, 1969) Exchange of letters of 6 August 1971 modifying the exchange of letters of 18 May 1963, published by the decree n° 71-1147 of December 22, 1971 (OJ of January 8, 1972)

Art. 1: Income tax

The Government of SAS the Prince of Monaco is committed instituting in the Principality an income tax carried out as from January 1, 1963 by the companies aimed to article 2 hereafter.

Subject to the provisions of articles 3 to 6 and 9 of this convention and adaptations which would be considered to be necessary by mutual agreement because of the particular situation of the Principality, this tax is established and recovered under the same conditions as the French tax striking the benefit of the companies and other people.

The establishment, the covering and the dispute of this tax are exclusive competence of the Administration Monacan. The product of the aforesaid tax is completely acquired with the Princely Treasury.