Personal Taxation

There is no income tax, capital gains tax, or wealth tax. There is a limited form of gift and inheritance tax which applies to assets in Monaco.

Assets are exempt from the gift and inheritance tax if bequeathed or donated to a spouse, ancestors or descendants, the local community, public hospitals, charitable organisations, or authorised private charitable foundations.

The rates of tax payable depend on the relationship between the donee and the donor or deceased as follows:

Relationship Rate %
Brothers and sisters
8
Uncles, aunts, nephews, nieces
10
Other relatives
13
Unrelated parties 16