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Author Topic: Funding  (Read 1334 times)
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tsarinya

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« on: April 24, 2019, 03:47:00 PM »

Hello all! I was hoping you could help me with a question?
I was reading an article that says In 2015, the amount Monaco spent on the royals was 43.5 million (39 million), up from 35.7 million (32 million) in 2013 but Im curious, I thought the residents of Monaco didnt have to pay tax, so how do the people fund the Monegasque royal family? Thank you! 
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Lord Gn

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« Reply #1 on: April 24, 2019, 04:15:32 PM »

No idea. In fact, my idea is that the whole place belongs to the Grimaldis and some other few families. Common  people work for their companies and  have to pay their taxes for ...services,insurance, pensions and so on. So, you work for me, I pay this salary and then you have to give me back some of it because.
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anastasia beaverhausen

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« Reply #2 on: April 24, 2019, 04:27:22 PM »

No idea. In fact, my idea is that the whole place belongs to the Grimaldis and some other few families. Common  people work for their companies and  have to pay their taxes for ...services,insurance, pensions and so on. So, you work for me, I pay this salary and then you have to give me back some of it because.

Wikipedia says no tax on individuals, which leads me to believe that there are taxes on businesses.  Monaco also had a little problem with money laundering, especially through the casino, a few years ago. So the fees from that service might support a few endeavors if that is true.
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Lord Gn

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« Reply #3 on: April 24, 2019, 04:48:00 PM »

So taxes are exacted from the companies,which in turn exact them from salaries,but  I am an ignoramus where economics is concerned.
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Kaiserin

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« Reply #4 on: April 24, 2019, 04:55:29 PM »

Monaco has no income tax, neither on individuals nor on companies (in turn, the employees' share of social contribution is higher than in other European countries).

But Monaco has corporate taxes and for sure they have also VAT (as high as in France) - those two taxes are the main sources of "income" for the government.
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tsarinya

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« Reply #5 on: April 24, 2019, 08:27:36 PM »

When you say corporate tax does that mean if you arent a corporation or you dont work for a corporation then you wouldnt pay for the Royal Family unless you buy things that have VAT?     
Comparing this to my country of the UK is this a better model than the one the BRF has when a portion of the taxpayers money goes to the Royal Family?
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Kaiserin

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« Reply #6 on: April 24, 2019, 09:01:19 PM »

Well, yes and no ( > the fact that you work for a corporation does not make you pay corporate tax).
But: everything you buy has VAT on it. Either the full 19,6%, or the reduced rate of 5,5% (mainly on food).
So also in Monaco, part of the taxes used for the RF come from the citizens.

But imho it doesn't matter at all where the tax money comes from (I mean, from which tax). The government's only income in any economy is taxes. They cash in an amount x of taxes, and spend an amount y on whatever the government decides to fund (and a small part of y is the money to fund the royals, or the president).
Sadly, x < y in most cases, so loans have to be taken.
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