A multilayer capacitor and a board on which the multilayer capacitor is mounted provide increased capacitor effective area. The multilayer capacitor includes a capacitor body having first and second dielectric layers each with first and second internal electrodes, first and second external electrodes disposed on a surface of the capacitor body, a first via electrode connecting the first internal electrodes to the first external electrode, and a second via electrode connecting the second internal electrodes to the second external electrode. The first and second dielectric layers are alternately stacked in the first direction such that the first internal electrode of the first dielectric layer overlaps the second internal electrode of the second dielectric layer in a first direction, and the second internal electrode of the first dielectric layer overlaps the first internal electrode of the second dielectric layer in the first direction.