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New Caledonia
Overview
Last reviewed - 16 April 2024New Caledonia is a group of French islands and archipelagos located in the South Pacific Ocean. The capital city of New Caledonia is Nouméa, and the official language is French.
The local currency used in New Caledonia is the Pacific franc, also known as the CFP (Communauté Française du Pacifique) franc (XPF).
New Caledonia is governed by a specific constitutional regime (Articles 76 and 77 of the French Constitution) and benefits from a broad autonomy from France. However, independence from France has been rejected notably by a referendum held in December 2021.
The institutions of New Caledonia are Congress, the Government, the Customary Senate, the Economic, Social and Environmental Council, and the Customary Councils.
The State is represented by the High Commissioner of the Republic.
New Caledonia is divided into three provinces: the North Province, the South Province, and the Loyalty Islands Province. The provinces and the communes are territorial authorities. Each province has a deliberative assembly and has representatives in Congress. The law also recognises customary areas.
New Caledonia benefits from a tax autonomy from France, and the Congress is adopting its own tax laws that are gathered in a local tax code (i.e. the New Caledonia Tax Code, NCTC). The local tax administration is entitled to proceed with tax audits and has developed its own tax doctrine.
It is important to note that New Caledonia has entered into only one tax treaty, with France.
New Caledonian aspects are covered by PwC Société d’Avocats in France.
PwC has developed expertise in New Caledonia in audit, accounting, and consultancy for businesses of all sizes, in public and private sectors. PwC Société d’Avocats offers a multidisciplinary response capacity by mobilising teams of lawyers and professional specialists in taxation, business law, and employment law to provide services in the following areas:
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Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
30 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
Four months after the end of the fiscal year (30 April for calendar year taxpayers). |
| CIT final payment due date |
Four months after the end of the fiscal year (30 April for calendar year taxpayers). |
| CIT estimated payment due dates |
Two instalments payable by the end of the 7th and 11th months of the fiscal year. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
40 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
1 April |
| PIT final payment due date |
October |
| PIT estimated payment due dates |
Two instalments payable by 31 March and 15 July of the fiscal year. |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
General consumption tax (TGC): 11 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: 21 / 19.5 / 19.5 (corporate); 20 / 12 / 12 (individuals); Non-resident: 21 / 0 / 0 (corporate); 20 / 25 / 25 (individuals). |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
The net amount of long-term capital gains is taxed at a 15% CIT rate, with the exception of capital gains from the sale of building land and similar assets (as well as securities of companies whose assets are mainly constituted by this type of assets), the amount of which is taxed at a 25% CIT rate. |
| Headline individual capital gains tax rate (%) |
Capital gains derived by individuals are generally not taxable. However, the New Caledonian government has recently implemented a taxation on capital gain deriving from real properties. The tax on private real estate capital gains (PVI) is 20% of the amount of the capital gain, to which must be added 4% of the CCS, or 24% in total. |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NA |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
50% between non-related parties or non-direct dependants (siblings). |
| Headline gift tax rate (%) |
50% between non-related parties or non-direct dependants (siblings). |
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