According to Arts. 12, 62 and 72 of the Code des Taxes sur le chiffre d’affaires, all construction transactions carried out in the Principality of Monaco by non-Monegasque companies ARE SUBJECT to Monegasque TVA.
The Principality of Monaco requires that NON-Monegasque companies must appoint a local tax representative who will fulfil, on behalf of the company, all tax and administrative obligations with Monegasque Tax Services.
Effective 4 July 2014, the Principality has introduced the reverse charge TVA mechanism for sub-contractor invoicing in the construction sector.
Non-Monegasque sub-contractors are required to designate a Monegasque tax representative and request building authorisation, but invoicing will be governed by the reverse charge mechanism.
- Complete assistance to businesses: construction authorisation forms with the relevant agencies (Expansion Economique, Service de l’Emploi), administrative secretariat for issuing employee identification cards for the work site from the Monegasque Caisse des Congés Payées BTP, consultancy on employee secondments in the Principality of Monaco;
- Designation as Monegasque tax representative, registration of the company with Monegasque Tax Services;
- Consultancy on invoicing transactions in the Principality of Monaco
- TVA declarations