Fiscal non-residents to be taxed at rate of residents
MARIGOT--The Territorial Council at a plenary session on Thursday, November 20, re-voted and adopted the deliberation already decided at the last session on October 30, whereby fiscal non-residents living in St. Martin less than five years will be taxed at the same rate as residents if receiving at least 75 per cent of their income derived from St. Martin. This income tax will be paid in 2016 based on declaration of 2015 revenue.
The re-vote was necessary due to the omission of when the new law would go into effect.
Although the motion was passed by the majority Opposition Leader Daniel Gibbs argued the decision circumvents the five-year residency rule stated in the Organic Law and is therefore illegal.
"The condition of the five-year rule is obligatory in the organic law," he insisted Read more
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