VAT mark in Monaco is TVA

Standard tax rate in Monaco is 20%, with another two kinds of tax rates:

5.5%

2.1%

Tax Refund Scope:

• Travel costs (communication)

• Construction costs of exhibition stand

• Real estate services expenses ( leasing, construction, tearing down and repairing of house, intermediary services, employment of auctioneers, architects, lawyers, surveyors, engineers, audit services, property assessments, surveys)

• Development and exploration costs (oil, natural gas, minerals)

• Conditions surveys and research expenses of land and sea-bed (earthquakes, geology, geomagnetism)

• Related expenses of overseas offices, representative offices and liaison offices (house rental, utilities, office furniture, decoration, etc.)

• DROP-SHIPPING (purchasing, transportation and manual operation expenses that produced by purchasing goods from one EU country and delivering to another)

• Import tax

• Subcontract

Non-Tax Refund Scope:

• Catering

• Hotel Accommodation

• Leasing, repairing and operating of passenger vehicle

• Refueling fees, tolls, bridge tolls

• Transportation costs (train, taxi, bus). But the fees produced by taking MINI BUS can be applied for VAT refund

• Purchasing of buildings

Minimum Tax Refund Amount:

• Quarterly: 400 euro

• Annual: 50 euro

Valid Period of Tax Refund:

• Invoice of the current year (subjecting to the date of invoice) needs to submit tax refund application before June 30th the next year; For example: if the date of invoice is December 30th, 2010, this invoice must be submitted to the Monacan tax bureau before June 30th, 2011 for tax refund application. 

Documents Required for Tax Refund:

• Certificate of Authorization (handled by our company and your company just needs to sign and seal)

• The original invoice (electronic version of the invoice is also acceptable)

Processing Period:

The processing period published by Monacan tax bureau is 6 months. Usually Chinese companies can receive the tax refund payment within 6 months after submitting tax refund application.

According to our experience, Monacan tax bureau will remit tax payment to Chinese companies within 3 to 4 months after receiving the application.