New Caledonia Tax Agency Issues Notice Clarifying Instructions for Completing IRCDC Declaration

The New Caledonian Department of Tax Services July 1 issued a notice clarifying the instructions for completing the declaration for income from securities (IRCDC) and explained the calculation methods to claim the reinvestment tax credit. The instructions apply to companies subject to corporate income tax (IS) in New Caledonia, which have distributed products during an accounting period. The tax agency also clarified that the reinvestment tax credit allows a qualifying taxpayer who allocates distributions to the financing of one or more companies registered in New Caledonia to claim a tax reduction equal to 70 percent of the financing amount, multiplied ...