Accounting and tax in 2023

1. The San Marino tax system is quite simple and investor-friendly. Corporate tax is levied at 17% for all companies;
2. Shareholders are entitled to total profits at no additional taxation;
3. Investors pay social security contributions tax as employers at 26.1%;
4. Tax levied on interest income is at 13%;
5. Environmental and circulation taxes are charged at €18 and €50 respectively while fuel is taxed at 21%;
6. There is no VAT system in San Marino but instead they have indirect tax known as monofase whereby the investor pays a one-off tax of 17% at the time of importation;
7. Capital gains tax is levied at 17%;
8. Filing of tax returns is carried out every fiscal year;
9. It is important our Clients’ are aware of their personal and corporate tax obligations in their country of residence and domicile; and they will fulfill those obligations annually. Let us know if you need Healy Consultants’ help to clarify your annual reporting obligations.