28 Oct 2015

France extends overseas tax concessions

1:27 pm on 28 October 2015

The French government says it will extend tax concessions to companies investing in overseas departments to the end of 2020.

The assurance was given by the overseas minister, George Pau-Langevin, who says a decision has been reached now to give certainty to those who doubted the government's determination to help.

The scheme had only been guaranteed for another two years and prompted calls by businesspeople and politicians in overseas territories to confirm it for longer.

The French Pacific territories have been hit by hard economic times, with French Polynesia in a prolonged slump while New Caledonia is being hit by the drop of the nickel price.