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work in Monaco

Posted by Jdunkerl - Created: 14 years ago
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7 replies (Showing replies: 1 to 7)

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Posted by Zeynep-183200 - 14 years ago

Several friends of different nationalities, currently working & living in Monaco but contemplating moving to France have recently calculated that such a move will result in paying a little more than a month's salary as tax to French government.

This is obviously less than the tax other residents of France who also work in France pay, because those who work in Monaco escape part of the taxes on their salary.

I hope this helps.

Zeynep

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Posted by Jdunkerl - 14 years ago

Thanks all for your replies! Just need to get a job now - have French and Italian - just thought Monaco might be a good option.

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Posted by mike-179830 - 14 years ago

quote:As a British national without a CSJ who is self employed you'd pay your taxes in the UK. If you work for a company here you'd need a Carte SJ and would therefore have to pay them in France.

There's some confusion here. For EU citizens a Titre de Séjour is NOT a work permit (although it may confer the right to work on non-EU citizens). EU citizens do not require a work permit. The Titre (Carte) de Séjour is a residency permit, and you need one whether you are employed or self-employed, if you live in France - full details are here.

Where you live and where you are "domiciled for tax purposes" are not necessarily the same place but, unless you're rich enough to pay some very deft tax consultants large sums of money, they usually are.

Thanks to a double-taxation agreement, residents of Italy working in Monaco currently pay no income tax. Thanks to an older, different agreement, residents of France working in Monaco do pay tax. However, the Italy-Monaco agreement is being dismantled and this loophole is expected to disappear sometime next year.

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Mike

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Posted by jjmiller - 14 years ago

As a British national without a CSJ who is self employed you'd pay your taxes in the UK. If you work for a company here you'd need a Carte SJ and would therefore have to pay them in France. If you live in Italy work in Monaco at somewhere that for some strage reason doesn't require a CSJ, you'd have to pay your taxes in the uk.

Death and taxes my friend. Cant escape either.

Although as a US citizen there is a way to not have to pay taxes on the first $80,000 you make. But you either have to pay them in another country or not be in the US for the majority of the year.

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Posted by jmroberts-180597 - 14 years ago

I think that if you live on the Italian side of the border and work in Monaco you don't have to pay income tax... something like that. It's worth looking into.

The thing is that your primary country of residence for the tax year musn't be France. Perhaps other people here would be able to advise you, I read about that Italian story on AngloInfo a while back.

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Posted by Jdunkerl - 14 years ago

Thanks,

So I presume that as I'm a British national, needing a Carte de Sejour to live in France, I'll need to pay French tax?

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Posted by jjmiller - 14 years ago

My understanding is if your an French national, or Carte de Sejour, you'll pay you taxes in France. Any other situation like self employment you'd pay in France or your country of origin.

Unless your Monegasque no dice.