The main principal of Monaco's fiscal system is the total absence of direct taxation. There are two exceptions to this principal :
- Companies earning more than 25% of their turnover outside of the Principality and companies whose activities consist of earning revenus from patents and literary or artistic property rights, are subject to a tax of 33.33% on profits.
- French nationals who are unable to prove that they resided in the Principality for 5 years before October 31, 1962.
Apart from with France, the Principality has signed no other bilateral fiscal agreements.
Assets located in Monaco are subject to the following inheritance tax rates :
- in direct line of descendance : 0% - between brothers and sisters : 8% - between uncles and nephews : 10% - between relatives : 13% - between non-relatives : 16%
- Companies earning more than 25% of their turnover outside of the Principality and companies whose activities consist of earning revenus from patents and literary or artistic property rights, are subject to a tax of 33.33% on profits.
- French nationals who are unable to prove that they resided in the Principality for 5 years before October 31, 1962.
Apart from with France, the Principality has signed no other bilateral fiscal agreements.
Individuals
Persons residing in Monaco (except French nationals) do not pay tax on income, on betterment or on capital. For French nationals, only french nationals who can prove that they resided in Monaco at least 5 years before October 31, 1962 are subject to the same system as other nationalities.Assets located in Monaco are subject to the following inheritance tax rates :
- in direct line of descendance : 0% - between brothers and sisters : 8% - between uncles and nephews : 10% - between relatives : 13% - between non-relatives : 16%
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