Why there is no income tax in Monaco?
- 1 month agoFavorite 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.
- Anonymous1 month ago
They make enough money from gambling
- mercedesLv 71 month ago
They don't need it.
- Wayne ZLv 71 month ago
Only the wealthy can live there and they don't need government services.
No, you can't move there.
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- MichaelLv 71 month ago
Because they choose to fund their government through other revenue streams.
- JayLv 61 month ago
they arent obligated to have one. nobody is.
- Elaine MLv 71 month ago
Their government set it up that way.