The Principality of Monaco has time and again been accused of facilitating tax avoidance and wrongfully branded as an offshore tax haven. The country's laws, however, do not encourage unlawful evasive activities, and authorities are determent to change that inaccurate image.
By Anas Almasri.
Contrary to widespread belief that Monaco's main economic strength resides in it being a tax haven, the small city-state, home to some 36,000 residents, is not a shelter for tax evasion.International financial services, global commerce and tourism make up the country's major economic sectors. Its resorts and grand casinos as well as its pleasant climate are...
