13 Nov 2007

One year extension of tax credits in American Samoa approved

11:29 am on 13 November 2007

A bill which includes a one-year extension of tax credits for American Samoa's canneries has been approved by the US House of Representatives.

Star Kist Samoa and Samoa Packing, which employ close to 5,000 workers between them, say they need the tax incentives to remain competitive against foreign tuna producers.

The territory's member of the US Congress, Faleomavaega Eni Hunkin, says the one-year extension is very important given that American Samoa's private sector economy is more than 80 percent dependent either directly or indirectly on the US tuna processing and fishing industries.