Invoicing and Tax regulation in Monaco

Invoicing regulation in Monaco for b2b, b2c and b2g business

In Monaco, all businesses must adhere to the country's invoicing regulations which is mandatory. Invoices must include: the date of issuance, a unique invoice number, the supplier’s and customer's name, address, and VAT number, and a complete description of goods and services provided, along with the quantity, tax rate, and total price. Failure to comply can result in penalties.

Real-time reporting / fiscalization in Monaco for b2b, b2c and b2g business

Monaco does not have mandatory requirements for real-time reporting or fiscalization. However, businesses operating in Monaco are generally advised to maintain detailed records of their transactions in real time, as a best practice. This can help with tax compliance and when undergoing audits.

E-Invoicing in Monaco for b2b, b2c and b2g business

E-invoicing is not mandatory in Monaco for any type of business. But like all other EU countries, Monaco is also encouraged to adapt to electronic invoicing, for easier record-keeping, efficiency, and transparency.

VAT/GST/tax compliance in Monaco for b2b, b2c and b2g business

For tax compliance in Monaco, taxation of corporations is based on the corporate income tax, which stands at 33.33%. Monaco does not apply VAT locally but under French law. Therefore, your company needs to be registered under French VAT regime if it provides taxable supplies in Monaco, the tax rate under French VAT is typically 20%. For businesses, staying compliant with these rules is obligatory.

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