Monaco - how are public services funded?

[MitchT]

Just out of curiosity ... as there isn't taxation (at least not in the conventional sense), in Monaco, where does the money come from to pay for the emergency services, refuse collection, upkeep of public spaces, etc. I realise there'll be mechanisms in place to facilitate the funding of these, but what are they?

[daveenty]

I heard that it was all down to the Casino, which sounds fair.

[mikey77]

That's what I have always been told by a friend who has lived there a very long time.
Things seem to be changing for the Grimaldi family these days though. The Casino/Opera House now has boutiques down one side and the gardens at the top of Casino Square are being desecrated at the moment by building dreadful modernist advertising pavilions for a four-year show. A bit of belt-tightening going on, I reckon...

[smifffymoto]

The French.Every weekend loading the car up with cheap fags,Ricard and Paella dishes .

[breakfan]

Although there is no income tax for residents (apart from French ones), most of the other taxes exist like anywhere else (eg. VAT on all products). Business-taxes are also in place, but at advantageous rates, so there are many many businesses based in the Principality.

The main stream of income, year-round, is no doubt tourism. Monaco thrives on tourism. They hold big international events year-round (Grand Prix, Yacht Show, Tennis Open...) plus large conferences/shows most weeks. It means there is always something going on, something to fill the hotels and restaurants.

Of course then there is the Casinos (although there aren't as many as people think, around 5 or 6)... no chance of finding exact figures there's no doubt they generate enormous $$$$