Although Monaco is not part of the EU, it forms part of the EU territory for VAT purposes. As such, the principles of the EU VAT Directives are applicable to Monaco. As such, Monaco VAT refund applications will follow the same principles as included in the 8th Directive and 13th Directive. Thus it is important that an entity claiming a Monaco VAT refund not be established in Monaco and not have a Monaco VAT number.

For Monaco VAT refunds under the 8th Directive: claims should be submitted electronically through the portal managed by the claimant’s Member State of Establishment. For Monaco VAT refunds under the 13th Directive: claims should be submitted physically by sending the hard copy documents to the Monaco VAT Authority. VAT IT will be able to assist with submitting your Monaco VAT refunds.

Invoices that do not meet all the invoice requirements (such as not indicating the Monaco VAT rate), would generally not be eligible for a Monaco VAT refund. The entity would need to contact the supplier to correct the error and issue a corrected Monaco VAT invoice to be included in a Monaco VAT refund submission. This is something that VAT IT will be able to assist with.

Original invoices are not required for Monaco VAT refunds under the 8th Directive, and photocopies may be submitted. Original invoices are however required for Monaco VAT refunds under the 13th Directive.

Processing times for a Monaco VAT refund can vary. Businesses reclaiming Monaco VAT can expect it to take anywhere from a few months to a year, depending on the claim complexity and submission accuracy.

Generally the Monaco VAT incurred on the following expenses can be recovered in a Monaco VAT refund: Fuel; Parking fees; Accommodation (for guests other than the claimant’s employees); Food, drink and restaurant services; Admissions to fairs and exhibitions, Entertainment (other than to the claimant’s employees) and other general business expenses (e.g., office expenses, marketing costs etc).