Madagascar vs Monaco
Tax Rate Comparison
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🇲🇬 Madagascar — Region & Commune Taxes
Madagascar's 6 provinces, 22 regions, and 1,695 communes levy Taxe Foncière sur les Terrains (TFT), Taxe Foncière sur les Propriétés Bâties (TFPB), and Taxe Professionnelle (TP — business licence). The Direction Générale des Impôts (DGI) administers national taxes. Madagascar is highly dependent on vanilla (world's largest producer), cloves, seafood exports, and mining (ilmenite, cobalt via Ambatovy). It's among the world's poorest countries. Cyclones regularly disrupt the economy and infrastructure.
🇲🇨 Monaco — No Sub-National Tax Variation
Monaco is a city-state with no sub-national taxation. Monaco has no personal income tax for residents (with limited exception for French nationals under a bilateral treaty). Corporate tax at 33.33% applies only to companies deriving more than 25% of revenue from outside Monaco. This principality between France and Italy is the world's most famous tax haven — with the world's highest per-capita millionaires. VAT is aligned with the French system.
Madagascar vs Monaco: Key Tax Differences (2026)
💰 Income Tax: 🇲🇬 Madagascar has a higher top income tax rate (0–20% vs 0%). 🇲🇨 Monaco is more favourable for high earners.
🛒 VAT/Sales Tax: Both countries have comparable consumption tax rates (20% vs 20%).
🏢 Corporate Tax: 🇲🇬 Madagascar offers a lower corporate rate (20% vs 33.33%), which can influence business location decisions.
📈 Capital Gains: 🇲🇨 Monaco taxes investment gains at a lower rate (0% vs 20%), benefiting investors.