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Taxation in Monaco

Monaco

Taxation in Monaco

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Taxation in Monaco

Personal Tax

The fiscal year is 1 January to 31 December. There is no personal income tax for non citizens.

Corporate tax

The tax on business profits is 33.33%. For a newly incorporated business reduced tax rates apply:

  • First 2 years - 0% payable
  • Third year - tax calculated on 25% of the reduced profits
  • Fourth year - tax calculated on 50 % of the reduced profits
  • Fifth year - tax calculated on 75 % of the reduced profits
  • Sixth year - tax calculated on 100 % of the reduced profits

What is the VAT equivalent in Monaco?

It is the same as France. The French equivalent is TVA (taxe sur la valeur ajoute). There are three rates:

  • 9,6% - Normal

  • 5,5% - reduced rate e.g. charged by the water board, artisans renovating a house older than two years old

  • 2,1% - Super-reduced rate: very rare

How do I file my VAT returns?

You can either submit the returns manually to:
Department of Finance and Economy
Tax Services Department
Main Tax Office
Le Panorama
57 rue Grimaldi
BP 475 - 98012 Monaco CEDEX
Tel: +377.98.98.81.06
+377.98.98.20.62
+377.98.98.81.40
+377.98.98.20.91
Fax: +377.98.98.81.55

Or, you can use the new online service, which is free of charge. You can declare and pay your VAT on line via the secure website www.secure.gouv.mc/etva

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