Monaco has published Sovereign Ordinance No. 10.832 of 19 September 2024 in the Official Gazette, which introduces certain VAT changes. One of the main changes is to the VAT exemption thresholds with effect from 1 January 2025, including that taxpayers are exempt from VAT if their turnover did not exceed the following in the previous year:
- EUR 85,000 for supplies of goods, hotel accommodation, and food and drink in restaurants (down from EUR 91,900);
- EUR 37,500 for the supply of services ot…