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: |
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Notes
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%.