According to an announcement from the Liechtenstein government, officials from Liechtenstein and Monaco concluded negotiations with the initialing of an income and capital tax treaty on 30 November 2016. The treaty is the first of its kind between the two countries, and must be signed and ratified before entering into force. According to the announcement, the treaty is in line with OECD standards and takes into account the results of the OECD BEPS project. Additional details will be published once available.