New Caledonia

As a general rule, a resident company is a company that is incorporated under New Caledonian/French commercial laws.

The notion of a business carried on in New Caledonia means the habitual exercise of an activity that can either be carried out within an autonomous establishment or be performed through representatives who are economically or legally dependent or result from the completion of transactions forming a full commercial cycle.

However, for insurance activities, the business is considered as carried on in New Caledonia for the insurance products that are distributed locally.

The profits arising from transactions carried out by Caledonian businesses in establishments that they own outside of New Caledonia are not taken into account for CIT. Therefore, related expenses and losses are not deductible from the profits subject to CIT.