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Graduate decrease of the CIT rate in Monaco

The Sovereign Ordinance of 24 October 2018 provides for a reduction of the corporate income tax rate in Monaco. This rate will progressively be reduced from 33,33% to 25% by 2022, as follows :

  • 31% for financial years beginning on or after January 1, 2019;
  • 28% for financial years beginning on or after January 1, 2020;
  • 26.5% for financial years beginning on or after January 1, 2021;
  • 25% for financial years beginning on or after January 1, 2022.

This Ordinance is the consequence of French corporate income tax rate decrease, as provided by the Finance Bill for 2018. As a reminder, French corporate income tax rate will reach 25% from 2022.