Italy vs Monaco

24

The corporate income tax rate in Monaco is 25% for companies that derive more than 25% of their revenue from operations outside of Monaco. Companies that do not meet this criterion are generally exempt from CIT​.https://gsl.org/en/taxes/monaco/

By the end of the 10th month after the end of the tax year.

Corporate tax returns in Monaco must be filed annually. The specific due dates can vary, but typically, tax returns are required to be submitted within 3 months following the end of the financial year​

The last day of the sixth month after the end of the tax year.

The payment of corporate income tax in Monaco is generally due within 3 months of the end of the financial year, coinciding with the tax return filing deadline​​

Advance payment: 1) Pay 40% on the last day of the sixth month after the end of the tax year, 2) Pay 60% at the end of the eleventh month after the end of the tax year. Taxpayers subject to the ISA reliability indices pay 50% in each instalment.

Monaco requires companies to make estimated tax payments throughout the year. These payments are usually based on the previous year's tax liability and are typically made in four installments. The exact dates for these installments are determined by the tax authorities, but they commonly fall at the end of each quarter​

0-26/0-26/0-20

26/26/30

22

20%

Capital gains are subject to the normal corporate income tax rate. A gain on a shareholding realised by a company is exempt as to 95% of its amount where four cumulative conditions are met: uninterrupted possession from the first day of the twelfth month before the disposal; classification among financial fixed assets in the first balance sheet closed during the holding period; the participated company not being resident or located in a preferential tax regime, that condition holding uninterruptedly for the period the statute requires; and the participated company carrying on a commercial enterprise, which is conclusively presumed absent where its assets consist mainly of property not used in its own business, and which must have been satisfied from the beginning of the third tax period before the disposal. The remaining 5% of the gain is taxed as business income.

Monaco does not levy a general capital gains tax on individuals. This means that residents do not pay taxes on capital gains from the sale of assets such as real estate or investments. However, companies subject to corporate income tax in Monaco will have their capital gains taxed as part of their overall corporate tax liability​

21.18%

-22.74%