TaxGlass

MC · Europe · EUR

Monaco

Tax rates

0102030405060World avg (corporate) 22.6%Income · Capital Gains · Crypto · Wealth Tax — 0%VAT 20%Corporate 25%

Estimate your income tax on a salary with the income tax calculator.

Notes & in practice

Income Tax

Monegasque nationals and residents of Monaco are not liable for income tax, a policy dating to an 1869 Ordinance of Prince Charles III. French nationals resident in Monaco are the exception, remaining subject to tax under the 1963 bilateral convention between France and Monaco.

VAT

Monaco applies the same VAT rate as France.

In practice

Filing

Every business or independent professional regularly carrying out profitable economic transactions is subject to VAT. VAT is declared monthly by default; a business owing less than EUR 4,000 in VAT per year may request quarterly filing, and those exempt from VAT instead file a single annual declaration each January for the prior year.

Source: MonEntreprise.gouv.mc — How to declare and pay VAT · as of 2023-03-06
Exemptions

Transactions that are usually exempt — those of persons carrying out exempted non-commercial activities, transactions by banking and financial institutions, and rentals of unfurnished property for industrial, commercial, or professional use — may instead be taxed at the option of the person performing them.

Source: MonEntreprise.gouv.mc — Value Added Tax · as of 2023-03-07

Capital Gains Tax

Monaco does not levy personal income tax on residents (other than French nationals under the 1963 France-Monaco tax treaty), so individual capital gains are not taxed as income. A separate 1% transfer tax applies to sales of shares in Monegasque companies, but shares in foreign companies are exempt from this transfer tax.

Crypto Tax

Monegasque nationals and residents of Monaco, other than French nationals covered by the 1963 France-Monaco tax convention, are not liable for income tax at all, so gains individuals realize on disposing of cryptocurrency are not taxed.

Wealth Tax

No net wealth tax levied. Monaco's official government portal states explicitly that individuals face no income tax, no wealth tax, no annual property tax and no council tax. Note: French nationals resident in Monaco remain separately liable for France's Impôt sur la Fortune Immobilière (IFI) on real estate under the 1963 Franco-Monegasque bilateral convention, but that is a French tax on French nationals specifically, not a Monegasque wealth tax.