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Definitions
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Dictionary > Definitions > Industry > Law Girardin
Law Girardin
Definition
Law 2003-660 of July 21, 2003, real investment overseas. The starting point is acquisition by the investor of a new real estate in the DOM or TOM. In exchange of its participation in the real development overseas, the State grants to him a substantial
Description
1. the law Girardin "intermediate hiring": The tax cut amounts to 50%, that is to say 10% per annum during 5 years. This reduction however is limited to an amount of 1953 including all taxes multiplied by "surface défiscalisable" of the good + 4% in the event of use of renewable energy (either 54% on the whole). The calculation of the area défiscalisable occurs as follows: Livable surface + surface of covered terrace (maximum 14m2). 2. the law Girardin "free hiring": The tax cut amounts to 40%, that is to say 8% per annum during 5 years. This reduction however is limited to an amount of 1953 including all taxes multiplied by "surface défiscalisable" of the good. The calculation of the area défiscalisable is identical to the preceding case: Livable surface + surface of covered terrace (maximum 14m2).
Author
Anwar Hossain
Author Email
anwtele@yahoo.com