Monaco has published Sovereign Ordinance No. 8.512 of 26 February 2021 in the Official Gazette, which includes amendments regarding VAT (Turnover Tax). One of the main amendments is the introduction of new Article 52 bis in the Turnover Tax Code that provides for the application of a 0% VAT rate on COVID-19 vaccines and closely related service and in vitro diagnostic medical devices approved in the EU. The Article applies retroactively from 15 October 2020 and will be repealed with effect fr…