Tax laws Saint Pierre and Miquelon (France)
Saint-Pierre-et-Miquelon, a French overseas collectivity, possesses a unique tax system tailored to its specific administrative and economic context. Operating under the regime of Article 74 of the French Constitution, it is neither a department nor a region, granting it certain fiscal autonomies.
Key Aspects of the Tax System:
Customs Autonomy: The territorial government has significant autonomy over customs regulations, allowing it to impose taxes on goods entering the archipelago from mainland France or abroad, with few exceptions.
Absence of Certain Taxes: There is no wealth tax (Impôt de Solidarité sur la Fortune, ISF) or tax on real estate wealth (Impôt sur la Fortune Immobilière, IFI), which replaced the ISF in mainland France in 2018.
Hydrocarbon Resource Revenue: A specific levy is imposed on holders of exploration permits for liquid or gaseous hydrocarbon deposits offshore from Saint-Pierre-et-Miquelon. Established in 1998, this tax aims to ensure the collectivity benefits from the exploitation of its underwater resources.
Non-EU Status: Saint-Pierre-et-Miquelon is not part of the European Union, distinguishing it from other French overseas regions that are considered outermost regions under EU law. This status influences its trade and tax relationships.
Currency and Voting Rights: Despite its non-EU status, the official currency is the euro, and residents hold French and European passports, enabling participation in French national and European parliamentary elections.
For comprehensive and current information, consulting the official tax authority of Saint-Pierre-et-Miquelon or a tax professional is recommended.
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