Draft Finance Law 2024: the main tax exemption schemes in Overseas territories called into question


The President of the CCISM, Angèle Dormoy, expresses her greatest fears regarding the disastrous consequences on the economy of the Community of Saint-Martin, as well as that of all Overseas Territories, of the amendment made by the rapporteur of the budget, Jean-René Cazeneuve which aims purely and simply to eliminate the main tax exemption schemes which support our economy.

In substance this text provides for the abolition of the benefit of tax aid on furnished tourist accommodation, the abolition of the benefit of tax aid on tourist vehicles, with the exception of vehicles intended for the use of taxis and farmers , the elimination of the benefit of tax assistance in favor of goods intended for private consumption (solar water heaters in particular), the opening of the benefit of tax assistance for overseas investment in favor of investments made for the installation and acquisition of photovoltaic panels for the sole self-consumption of businesses and the integration of land acquisition costs in the calculation of the eligible base for the benefit of tax aid for overseas investment for renovation and rehabilitation operations of hotel and industrial wastelands.

The first three measures will necessarily lead to a drastic reduction in activities that currently benefit from these tax advantages. They will impact hundreds of direct jobs and thousands of indirect jobs, weakening our tourism sector, the economic lever of our territory and part of the economic recovery efforts in the Community of Saint-Martin. It is also regrettable that this proposed amendment was carried out without prior consultation of the stakeholders concerned and without expert analysis of the existing situation or impact study of the said deletions.

Angèle Dormoy raised this issue with parliamentarians yesterday. “Our FEDOM and ACCIOM networks are mobilized to ensure that this amendment cannot be examined as it stands,” specifies the CCISM.

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