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VAT in Monaco

VAT Guide for Non-EU countries within Europe in 2022

If you deal with companiesin Monaco, you may be able to claim a VAT refund.Monegasque
Whether you’re a European or non-European company, establishing certain activities in Monaco may mean you need to register for VAT. You will need to appoint a tax representative to fulfil your VAT reporting obligations in Monaco.
We have put together for you the specific information on the VAT regulations in Monaco.

Basic information

EU membershipn/a
ISO codeMC
VAT introduced in Monaco1963
Nom de la TVA in MonacoTaxe sur la Valeur Ajoutée (TVA)
VAT ID format in MonacoFR99900099999 (et n° de dossier fiscal 9999L L9999)
Territories with special status in MonacoMonaco

VAT rates in Monaco

Standard VAT rate20%
Reduced VAT rate (1)10%
Reduced VAT rate (2)5,5%
Super reduced VAT raten/a
VAT parking raten/a
Zero VAT rateyes

Reporting frequency in Monaco

VAT returnsmonthly, quarterly
Reporting currencyEUR

VAT-related penalties in Monaco

Failure to file a VAT returnFailure to file the returns used for the assessment or liquidation of turnover taxes shall incur a fine of EUR 15. The authorities may then send a formal notice to produce the documents within 30 days. If the document is not produced within this period, the fine is increased to €150.
Late payment of VATFailure to pay or insufficient payment or late payment of the tax due will incur payments for interest on arrears which shall be due independently of any penalties. The amount of interest on arrears is 0.20% of the total charged to the debtor or whose payment has been deferred, per month the payment is late. It is calculated from the first day of the month following the date the tax was due until the last day of the month of payment.
Failure to report ESL/DEB Failure to file the returns detailed in Articles 73 and 74 within the time limits shall incur a fine of €750.
This fine is increased to €1,500 if these declarations are not produced within 30 days of a formal notice.
Each omission or inaccuracy in the returns submitted shall incur a fine of €15, which may not exceed a total of €1,500.

Useful links on VAT in Monaco

Tax Administration in MonacoDepartment of Finance and Economy
Ministry of Finance in MonacoDepartment of Finance and Economy
Check a VAT number in Monacon/a
The Principality of Monaco, a 2.02 km² microstate on the Mediterranean Coast, is surrounded by 4 French communes, Cap-d’Ail, La Turbie, Beausoleil and Roquebrune-Cap-Martin, and is located less than 15 kilometres from the French-Italian land border. The Principality has direct access to the Mediterranean Sea and has two ports (Port Hercule and Port de Fontvieille), where it welcomes both commercial and pleasure vessels, making it a major player in the yachting/boating industry.

The Monegasque economy is well known for its service and industrial sectors, mainly in the following activities: wholesale and retail trade, construction, real estate, financial and insurance activities, scientific and technical activities, administrative and support services, accommodation and catering.

Although the Principality of Monaco is outside the European Union, it nevertheless enjoys close relations with the European Union. It is an integral part of the Community customs territory because of its customs union with France. It belongs to the euro zone and is integrated into the European VAT system following the agreements between France and Monaco signed on 18th May 1963 and 26th May 2003. Under these agreements, Monaco collects VAT and pays it to the French State, which in turn pays it back a share (shared account principle).

VAT regulations in Monaco are based on the laws and directives issued by the European Union on Intra-Community VAT, which are written into domestic law through princely orders and adapted where necessary. The regulations in Monaco are based on agreements between France and Monaco, the tax code for business revenue and princely orders.

Foreign companies carrying out operations falling within the scope of VAT in Monaco must register for VAT with the Monaco Tax Department through an accredited tax representative. The company can then invoices according to local VAT rules and deduct the VAT paid on its purchases in Monaco or in France. In the context of real estate work carried out in the Principality, each foreign company working directly or as a subcontractor on territory belonging to Monaco is required to obtain an authorisation issued by the Department of Economic Expansion and at the same time to appoint a tax representative.

Les taux de TVA actuellement en vigueur in Monaco sont les suivants:

  • Standard VAT rate: 20%
  • Reduced VAT rate (1): 10%
  • Reduced VAT rate (2): 5,5%
  • Super reduced VAT rate: n/a
  • VAT parking rate: n/a
  • Zero VAT rate yes

Why identify yourself to VAT in Monaco?

You may need a VAT number in Monaco to fulfil your tax obligations in this country. Indeed, certain activities such as sales, purchases and subcontracting operations may require VAT identification. To check if your activities require VAT identification in Monaco, use our VAT simulator or contact us.

VAT Monegasque is named Taxe sur la Valeur Ajoutée (TVA)and the VAT numbers in Monaco have the following structure: FR99900099999 (et n° de dossier fiscal 9999L L9999).

How do I get a VAT number in Monaco?

The administrations in charge of in Monaco VAT are the following: Department of Finance and Economy , Department of Finance and Economy .

Registering for VATis a relatively simple formality compared to setting up a company, but in addition to obtaining a VAT number in Monacoyou’ll need to file periodic VAT returns to ensure your VAT compliance.

Companies with a VAT number in Monaco must complete and submit VAT returns in Monaco detailing all taxable income (sales) and expenses (costs), with the following periodicity: monthly, quarterly .

Failure to comply with the deadlines imposed by the Monegasque authorities for the deposit and payment of VAT will result in the payment of penalties .

These penalties are defined as follows in Monaco:

  • Penalties for failure to file a VAT return in Monaco: Failure to file the returns used for the assessment or liquidation of turnover taxes shall incur a fine of EUR 15. The authorities may then send a formal notice to produce the documents within 30 days. If the document is not produced within this period, the fine is increased to €150.
  • Penalties for late payment of VAT in Monaco: Failure to pay or insufficient payment or late payment of the tax due will incur payments for interest on arrears which shall be due independently of any penalties. The amount of interest on arrears is 0.20% of the total charged to the debtor or whose payment has been deferred, per month the payment is late. It is calculated from the first day of the month following the date the tax was due until the last day of the month of payment.


In principle, a company not established in Monaco can recover all or part of the VAT paid on its expenses.

There are three different scenarios:

  • The company, whether they are established within the European Union or not, is already registered for VAT in Monaco, or is obliged to register for VAT in Monaco. In this case, they recover the VAT on their turnover declaration filed with the Tax Services Department.
  • The company is established within the European Union (outside France), is not registered for VAT in Monaco and is not required to do so. In this case, they can apply for a VAT refund through the electronic portal of the tax administration of the country where they are established.
  • The company is not established within the European Union and is not required to register for VATin Monaco. In this case, they must use the services of a Monaco-based accredited fiscal representative to carry out the formalities imposed by the tax authorities in Monaco on their behalf.

Learn more about our VAT recovery services.

*This information is subject to change without notice.

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