Major revenue sources include postage stamp sales, liquor and tobacco taxes, and registration fees. The state does not collect income or direct personal or corporate taxes. As a result of these liberal tax laws, numerous international business maintain their headquarters in Monaco.
Major revenue sources include postage stamp sales, liquor and tobacco taxes, and registration fees. The state does not collect income or direct personal or corporate taxes. As a result of these liberal tax laws, numerous international business maintain their headquarters in Monaco.
Monaco generates revenue primarily through tourism, real estate, banking, and financial services, as well as hosting events like the Monaco Grand Prix and attracting high-net-worth individuals due to its tax-friendly environment.
The big draw is tax. The principality scrapped income taxes back in 1869, and other tax rates for companies and individuals are exceptionally low. The prospect of keeping hold of most of their wealth has attracted people from over 100 nations.
