VAT in Monaco: how it works and business obligations
The VAT system applicable in Monaco is closely linked to the French tax regime. Businesses established in the Principality may therefore be subject to the same general principles as French businesses with regard to value added tax.
VAT is an important obligation for companies that sell goods or provide services.
Businesses subject to VAT
A Monegasque business may be subject to VAT when it carries out an economic activity that falls within the scope of this tax.
This applies in particular to:
- commercial activities;
- service provision;
- real estate transactions, depending on their nature;
- trade with companies located in other countries.
The main VAT rates
The rates applied in Monaco are the same as French rates.
The main rates are:
- 20%: standard rate
- 10%: intermediate rate
- 5.5%: reduced rate
- 2.1%: special rate
The applicable rate depends on the nature of the goods or services concerned.
Business obligations
The companies concerned must in particular:
- charge VAT correctly;
- file their tax returns;
- pay over the VAT collected;
- keep accounting supporting documents.
VAT and international trade
Monegasque businesses working with foreign partners must pay particular attention to:
- imports;
- exports;
- international services;
- the rules applicable with European countries.
Getting support
VAT management can quickly become complex for businesses with international activities.
The accounting and tax firms based in Monaco can support companies with their reporting obligations.
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