This guide provides an overview of VAT in Monaco, including applicable rates, registration requirements, compliance obligations, and filing deadlines. It is designed for businesses engaging in transactions within Monaco.
Monaco’s VAT is tied directly to France’s system, as part of a bilateral agreement.
Foreign businesses that incur VAT on eligible expenses in Monaco may be able to reclaim it.
Although Monaco is not part of the EU, it forms part of the EU territory for VAT purposes. As such, the principles of the EU VAT Directives are applicable to Monaco. As such, Monaco VAT refund applications will follow the same principles as included in the 8th Directive and 13th Directive. Thus it is important that an entity claiming a Monaco VAT refund not be established in Monaco and not have a Monaco VAT number.
For Monaco VAT refunds under the 8th Directive: claims should be submitted electronically through the portal managed by the claimant's Member State of Establishment. For Monaco VAT refunds under the 13th Directive: claims should be submitted physically by sending the hard copy documents to the Monaco VAT Authority. VAT IT will be able to assist with submitting your Monaco VAT refunds.
Invoices that do not meet all the invoice requirements (such as not indicating the Monaco VAT rate), would generally not be eligible for a Monaco VAT refund. The entity would need to contact the supplier to correct the error and issue a corrected Monaco VAT invoice to be included in a Monaco VAT refund submission. This is something that VAT IT will be able to assist with.
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