31.01.2017

The Team Gibbs 2017 wants to abolish "tax on compensation”

In the brochure presenting his program, Daniel Gibbs is declaring “simpler, fairer and more transparent taxation.”

During the presentation of the Team Gibbs 2017 and its program to CCISM (Interprofessional Chamber of Commerce of Saint Martin), Daniel Gibbs has endeavored to reveal a few emblematic measures in tourism, education, or employment but did not talk about taxation, a subject that he yet often addressed at the territorial councils, meetings or press conferences in recent years. Taxation had been one of the axes of his program five years ago and he wanted to start a reform. Saturday in front of the media, Daniel Gibbs did not talk about it. He simply said that his team will launch an audit of finance and taxation in order to "bring back Saint Martin on the road to success”. However, a “focus” on this theme is made in the official brochure presenting the program. The Gibbs Team wants "a simpler, fairer and more transparent taxation”. It announces that it will thus reform “in the first months, all of our taxation for businesses and individuals, taking into account the economic and social needs of our territory”. On the method that it will employ to achieve this, it does, on the other hand, give very few details. It says to be “convinced” of the need for "a tax that rewards the work by removing the tax on compensation”. Is this the end of the income tax that every taxpayer must report and pay based on their earned income? The answer is not clearly stated, especially as a little further in the document, the Team undertakes to remove "the right of EUR 100 for the issuance of the tax exemption notice”. If the tax on remuneration or income is removed, the contribution of EUR 100 euros is removed automatically as well.  On the other hand, the Team is more explicit about inheritance and wants to extend features of exemptions “in particular to investments in real estate partnerships.” For businesses, Daniel Gibbs promises the corporate tax exemption during the first two years of activity, the generalization of the licenses after the removal of the patents. "For a more efficient tax which facilitates the work of businesses", he wants to implement “a taxation package”. Finally, the Team is counting on a broadening of the tax base through “better identification of wealth” in order to make a “fairer taxation.”

Estelle Gasnet

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