Income tax on rent, worked example, in Monaco

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Non-resident couple's joint monthly rental income1 €1,500 €6,000 €12,000
Annual Rental Income 18,000 72,000 144,000
= Taxable Income 18,000 72,000 144,000
Income Tax Rates2
Flat rate 1% 180 720 1,440
Annual Income Tax Due 180 720 1,440
Tax Due as % of Gross Income 1.00% 1.00% 1.00%
Thanks to:
Moore Stephens


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 EUR = 1.00 EUR

3 Estimated values. Income-generating expenses are deductible when calculating taxable income.

4 Rental income earned by nonresident individuals is taxed at a flat rate of 20%.

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