- Monaco VAT law underwent significant changes at the start of 2025
- New VAT thresholds set for goods, services, and specific groups like authors and artists
- Goods threshold now EUR 85,000, services EUR 37,500, and special threshold for authors and artists at EUR 50,000
- Businesses must register for VAT if turnover exceeds thresholds
- Immediate VAT registration required if turnover surpasses threshold by 10% or more within the current year
- Changes made to the rules on the place of supply for services, aligning with EU standards, focusing on consumer’s residence
- Short-term accommodation rentals under 31 nights now subject to a 10% VAT if providing three key services
- Businesses need to monitor turnover closely and ensure compliance with the new VAT regulations
- Providers of streamed and virtual services must track consumer locations to apply correct VAT rates
Source: vatabout.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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