Why there is no income tax in Monaco?

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  • 10 months ago
    Favourite 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.

  • Anonymous
    10 months ago

    They make enough money from gambling

  • 10 months ago

    They don't need it.

  • 10 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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  • 10 months ago

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

  • Anonymous
    10 months ago

    they arent obligated to have one. nobody is.

  • 10 months ago

    Their government set it up that way.

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