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Diverse taxes
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Registration duty, fiscal stamps and various taxes and levies :
Registration duty is levied on formalities to register transfers or civil or legal acts. It is either proportionate or a fixed amount.
Some of the most frequently used rates of taxation are as follows :
Proportionate rates :
- 1% on leases,
- 2% on judgements with conviction,
- 3% on acts containing mortgage commitments for the engrossed document,
- 5% on movable property sales, duty is reduced to 2% in the case of certain public sales and auctions,
- 6.5% on the sale of real estate,
- 7.5% on property transfers entailing the sale of commercial establishments,
- 1% transaction fees on real estate transfers,
- 0.65% mortgage subscription fee.
Fixed duty : 10 € (Law n° 1.247 of 21th December 2001)
Fiscal stamps are placed on all documents for civil or legal acts and inscriptions which can be produced as evidence before a court of justice. The cost is either fixed or depends on the format of the document established. Fiscal stamps are also a form of duty for the accomplishment of administrative formalities (certificate of residence, work permit, Livret de famille, passport...). (Law n° 1.221 of 12th September 1999 and Sovereign Order n° 14.290 of 12th September 1999, amended by the Sovereign Order n° 16.379 of 16th July 2004).
Registration of the following documents is compulsory and must be accomplished within the appropriate time limits :
- public acts drawn up by notaries or bailiffs,
- private acts for leases, sales of commercial establishments, wills,
- real estate transfers concerning living persons when the real estate is located in the Principality of Monaco,
- certain company acts.
It is not compulsory to register the following types of document :
- public administration and general interest documents,
- civil status documents and the issue of certified copies of the same,
- passports,
- mortgage registration statements, mortgage transcripts, certificates of non-registration as a mortgage delivered by the Registrar.
Other acts may also be subject to registration, but it is not compulsory unless the said document is to be produced before justice or the authorities.
Other taxes and duties are also levied :
- excise duties on the manufacture, circulation and consumption of alcohol,
- duties on alcoholic beverages,
- warranty tax on precious metal goods.
In the Principality of Monaco, these taxes and duties are subject to the same regulations as in France. They are established on the same basis and applied at the same rates.
Since 1 January 1993, the general conditions for the exchange of products subject to excise within the European Community are also applicable in Monaco. |
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