27 Mar 2010

Details of 2010 tax exemption for cannery in American Samoa revealed

10:20 am on 27 March 2010

The 2009 tax exemption for StarKist Samoa issued by the American Samoa government provids some details of what the cannery is getting in it's 2010 tax exemption.

A copy of the 2009 tax exemption was given to lawmakers yesterday but the governor's chief legal counsel Tasi Tuiteleleapaga says StarKist Samoa's 2010 tax exemption certificate mirrors the 2009 tax exemption.

According to the 2009 certificate, Star Kist is to operate a base level for production at 300 tons per day and the base level for employment at 2,000 people.

It says that corporate income taxes on the Star Kist's taxable income arising from the operations of Star Kist's tax exempt activity for each tax year shall be equal to 20 percent on taxable income up to 10 million US dollars, 10 percent on taxable income in excess of 10 up to 20 million dollars and 5 percent on taxable income in excess of 20 million dollars.

Local media says what was not immediately clear for lawmakers is how much is the total contribution by StarKist Samoa to government revenues.

The current tax exemption expires in September.