Tax Advisory in Monaco

Foreign nationals who earn a living in Monaco are not required to pay income tax because the government does not impose income tax on workers. However, they are obliged to pay social security contributions which are automatically deducted from their monthly salary. Rates for social security contributions range from 10% to 14% of the gross salary of an expat employee. The only tax treaty that Monaco has is with France, so those who are earning an income outside of Monaco may be liable to pay taxes in that country.

Expats may think their tax issues can be ignored until the taxman no longer runs after them, which is impossible. To settle these issues, it is important to use the services of a professional who can provide an accurate evaluation of their true tax status. Andrew Baker of UK is a personal taxation specialist who has been offering these services to expats in Monaco and around the world for 35 years.

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Monaco is known worldwide as a tax haven for wealthy expats and investors. Individuals employed in the Principality are offered tax exemptions, subject to certain qualifications. Expats with businesses in the region, however, are not eligible for any tax exemption. Tax Advisory Expatriates, a global advisory firm, provides expats assistance on tax returns, filing and planning.

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