2024 Guide – VAT in Monaco

Appoint a fiscal representative in Monacoand make sure to be 100% VAT compliant

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 membership n/a
ISO code MC
VAT introduced in Monaco 1963
VAT name in Monaco Taxe sur la Valeur Ajoutée (TVA)
VAT ID format in Monaco FR99900099999 (et n° de dossier fiscal 9999L L9999)
Territories with special status in Monaco Monaco

VAT rates in Monaco

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

Reporting frequency in Monaco

VAT returns monthly, quarterly
Reporting currency EUR

VAT-related penalties in Monaco

Failure to file a VAT return 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.
Late payment of VAT 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.
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 Monaco Department of Finance and Economy
Ministry of Finance in Monaco Department of Finance and Economy
Check a VAT number in Monaco n/a
Need VAT assistance in Monaco? Contact us now.

Appointing a tax representative or agent is sometimes an obligation, always a convenience.

A foreign company carrying out transactions in Monaco subject to Monegasque VAT, may be required to appoint a tax representative. Established in Monaco, the fiscal representative will fulfill the company’s VAT obligations to the Monegasque tax authorities on its behalf: filing VAT returns, paying VAT, claiming VAT refunds and carrying out tax audits.

Even when the appointment of a tax representative is not mandatory, a company may entrust the management of its VAT obligations to a tax agent. The difference between an agent and a tax representative essentially concerns the operator’s degree of responsibility. At EASYTAX, we will in any case use the term “tax representation”.

Why entrust your VAT obligations in Monaco to a tax representative?

To secure your operations, lighten your company’s administrative burden, and control tax risks in Monaco.
Intra-Community and Monegasque VAT regulations are complex and subject to frequent changes. Declaratory obligations are recurrent and vary in frequency. Penalties for default or delay, as well as errors in flow assessment, can quickly prove financially onerous.

Don’t take risks, don’t pull your hair out: leave the management of your VAT obligations to specialists.

For VAT compliance in Monaco, choose EASYTAX

Discover a simple, reliable and efficient tax representation service. EASYTAX handles all your VAT obligations, Intrastat, ESL, and your VAT recovery claims in Monaco, in all European Union countries and certain non-EU countries. You have access to a dedicated consultant, who monitors your file and answers any questions you may have.

Need a tax representative in Monaco? Contact us now.

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.

The VAT rates currently in force in Monaco are as follows:

  • 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

Need a tax representative in Monaco? Contact us now.

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.

Monegasque VAT 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 VAT in Monaco are the following: Department of Finance and Economy , Department of Finance and Economy .

VAT identification is a relatively simpler formality than setting up a company, but beyond obtaining a VAT number in Monaco, you’ll need to complete and submit periodic declarations to ensure your VAT compliance.

To check if your activities require VAT identification in Monaco, use our VAT simulator or contact us.

Companies with a VAT number in Monacomust complete and file dVAT decl arations in Monaco detailing all taxable income (sales) and expenses (costs), at regular intervals: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.

Need VAT assistance in Monaco? Contact us now.


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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