|Update:||Compliance Alert – Extension of the list of services under the reduced VAT rate|
On 9 March 2023, the Principality of Monaco announced the Sovereign Ordinance #9.821 related to the reduced VAT rate on specific services.
According to this Ordinance, VAT is levied at the reduced rate of 5.5% regarding services for laying, installing, and maintaining charging infrastructure for electric vehicles, defined as charging infrastructures installed in residential premises and intended for residents.
The reduced rate applies to energy renovation services carried out in premises rented at least two years ago. These premises are assigned or intended to be assigned to residential use at the end of the provision of services.
These services relate to installing, adapting or maintaining materials, equipment, devices, or systems intended to save energy or use the energy produced from renewable sources by improving thermal insulation, heating, ventilation, and domestic hot water production.