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This tax credit is equal to the amount of tax paid in

the State or territory outside Saint-Martin, but cannot

exceed the amount of Saint-Martin tax attributable to

such income.

Examples of calculating the income tax payable by tax residents in Saint-Martin

a.

A single person with no children receiving

€50,000 in salaries from sources based in

Saint-Martin

Number of units:

1

Taxable Income:

45,000

(after applying the 10%

deduction for professional expenses)

Gross tax:

€7,861

40% discount:

€3,145

Tax payable:

€4,716

(average tax rate: 9.4%)

b.

Same situation but a with a salary of €100,000

Number of units:

1

Taxable income:

90,000

Gross tax:

€23,368

40% capped discount:

€6,700

Tax payable:

€16,668

(average tax rate: 16.7%)

c.

Couple with no children receiving a total of

€50,000 in salaries from sources based in

Saint-Martin

Number of units:

2

Taxable Income:

45,000

(after applying the 10%

deduction for professional expenses)

Gross tax:

€3,586

40% discount:

€1,435

Tax payable:

€2,151

(average tax rate: 4.3%)

d.

Couple with no children receiving a total of

€100,000 in salaries from sources based in

Saint-Martin

Number of units:

2

Taxable Income:

90,000

(after applying the 10%

deduction for professional expenses)

Gross tax:

€15,722

40% discount:

€6,289

Tax payable:

€9,433

(average tax rate: 9.4%)

e.

Couple with one child receiving a total of

€ 100,000 in salaries from sources based in

Saint-Martin

Number of units:

2.5

Taxable Income:

90,000

(after applying the 10%

deduction for professional expenses)

Gross tax:

€13,355

40% discount:

€5,342

Tax payable:

€8,013

(average tax rate: 8%)

f.

Couple with two children receiving a total of

€140,000 in salaries from sources based in

Saint-Martin

Number of units:

3

Taxable Income:

126,000

(after applying the 10%

deduction for professional expenses)

Gross tax:

€21,788

40% capped discount:

€6,700

Tax payable:

€15,088

(average tax rate: 10,8%)

28

BUSINESS TAXATION

DOING BUSINESS IN SAINT-MARTIN