Why there is no income tax in Monaco?

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  • 2 months ago
    Favorite Answer

    Because they choose not to levy one. They have a 20% VAT, corporations pay 33% income tax (unless they can show that 3/4 of turnover is within the borders of Monaco), and there is a 33% tax on real estate sales.

    They simply don't need a personal income tax because they levy other types that generate the needed revenue.

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  • Anonymous
    2 months ago

    They make enough money from gambling

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  • 2 months ago

    They don't need it.

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  • 2 months ago

    Only the wealthy can live there and they don't need government services.

    No, you can't move there.

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  • 2 months ago

    Because they choose to fund their government through other revenue streams.  

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  • Jay
    Lv 6
    2 months ago

    they arent obligated to have one. nobody is.

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  • 2 months ago

    Their government set it up that way.

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