Overseas budget: "Dependence and relative relief" for Gibbs

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In the National Assembly, as part of the examination of the second part of the 2016 finance bill, the overseas budget was examined by the deputies last Tuesday. Daniel Gibbs, the deputy for the Northern Islands, said he was divided between "spite and relief".

"Relief, because with less than one percent increase, the overseas budget is stable compared to the budgets of previous years or that certain credits (those of the ADM in particular) remain maintained," said Daniel Gibbs. Feeling of spite, because the budget "lacks ambition", according to him. Regarding tax exemption, the deputy deplored "the vagueness around the announced end of tax assistance for investments overseas".

Tax exemption extended until 2020

By press release, the Minister of Overseas George Pau-Langevin announced yesterday "an evolution of the tax exemption system in order to clarify and stabilize the framework of aid for overseas investment at least until December 31, 2020". The tax credit will be extended under certain conditions. In communities where the tax credit is not applicable, such as in Saint-Martin, "the classic tax exemption mechanisms will be preserved, for social housing as well as for productive investment".

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