French Polynesia Gazettes Law Providing Measures to Modernize Tax System, Boost Local Investment

The French Polynesian Official Gazette March 31 published Law No. 2022-16, providing measures to modernize the tax system and boost local investments. The law includes measures: 1) providing a 2 percent tax reduction on income from reinvestment in French Polynesia companies; 2) exempting taxes on income from movable capital, subject to specified conditions; 3) providing an exemption from corporate income taxes for 24 months for qualified individual taxpayers converting to a corporate tax structure before Jan. 1, 2024; 4) providing eligibility conditions for the simplified tax regime; 5) providing a VAT exemption for specified consumer products; 6) requiring taxpayers to ...