Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, and Jean Castellini, Monaco Minister of Finance and Economy, signed an agreement on income taxation between Monaco and the UAE in presence of of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and H.S.H. Prince Albert II during the visit of the Monaco pavilion at Expo 2020.
This agreement aims to eliminate double taxation on income and prevent tax evasion and fraud.
This is the 36th tax agreement signed by the Principality of Monaco and "is the result of constructive negotiations carried out with the objective of preserving the specificities and interests of the two States, promoting their economic relations and improving their cooperation in tax matters."