How to request a refund of a deductible VAT credit which cannot be offset
Direction des Services Fiscaux
57 rue Grimaldi
MC 98000 MONACO
Department of Tax Services :
(+377) 98 98 81 21
(+377) 98 98 81 22
Fax : (+ 377) 98 98 81 55
Opening Hours : from 9h30 to 17h00 from Monday to Friday
Principle and conditions
The VAT to be refunded is calculated as the difference between the VAT collected on sales (gross VAT) and the deductible VAT on expenses.
If the VAT which can be deducted is higher than that collected, the company will get a VAT credit.
Any company whose business is subject to VAT is eligible to request the refund of a VAT credit. Normally, the deductible VAT must be recovered by offsetting it against the VAT for which the company is liable. However, where this cannot be done, a request may be made for the VAT credit to be refunded under certain conditions.
Only VAT paid on activities eligible for deduction may be taken into account in determining a VAT credit.
As such, no refund will be made for VAT paid:
- On expenses of a private nature
- To support activities which fall outside the scope of VAT application
Obtaining and completing the form
To get the forms you can either:
Download them here
Demande de remboursement de crédit de TVA déductible non imputable (353-0021_01-2015)
- Or collect it from the Department of Tax Services
Submitting the form
You should submit your form to the Tax Division at the Department of Tax Services, together with the VAT declaration for the period for which the refund is being requested.
Once a VAT credit refund has been requested, the credit can no longer be used to offset VAT due in subsequent declarations.