🇵🇲 Saint Pierre and Miquelon Tax Guide — Income, Corporate & VAT Rates

The tax rates in Saint Pierre and Miquelon range from 0% to 30% for personal income, with a corporate tax rate of 15%, and a standard VAT rate of 8.5%, making it essential for expats and businesses to understand the territory's tax system to navigate their obligations.

Tax System Overview

The tax system in Saint Pierre and Miquelon is based on the territorial principle, where only income earned within the territory is subject to taxation, regardless of the taxpayer's residence. However, individuals who are considered tax residents of Saint Pierre and Miquelon are subject to taxation on their worldwide income. To be considered a tax resident, an individual must have a permanent home in the territory, or spend more than six months in a calendar year in the territory.

The tax system in Saint Pierre and Miquelon is also influenced by its relationship with France, as the territory is an overseas collectivity of France. As a result, the territory's tax laws are aligned with those of France, and there are tax treaties in place between Saint Pierre and Miquelon and other countries to avoid double taxation. The tax year in Saint Pierre and Miquelon runs from January to December, and taxpayers are required to file their tax returns by the end of April of the following year.

Personal Income Tax

Corporate & Business Tax

• The corporate tax rate in Saint Pierre and Miquelon is 15%, which is lower than the rate in France.
• Small businesses and startups may be eligible for incentives and subsidies to encourage entrepreneurship and job creation.
• There are no free zones in Saint Pierre and Miquelon, but businesses may be able to take advantage of tax exemptions for certain types of income.
• Businesses must register with the territorial tax authority and obtain a tax identification number to conduct business in the territory.
• Companies must file their tax returns electronically and pay their taxes by the end of April of the following year.

VAT / Sales Tax

• The standard VAT rate in Saint Pierre and Miquelon is 8.5%, which is lower than the rate in France.
• There are reduced VAT rates of 2.1% and 5.5% for certain types of goods and services, such as food and transportation.
• Some goods and services are exempt from VAT, including healthcare and education services.
• Tourists may be eligible for a VAT refund on certain purchases, such as hotel stays and restaurant meals.

For Expats & Foreign Workers

• Tax residency rules in Saint Pierre and Miquelon are based on the number of days spent in the territory, with individuals who spend more than six months in a calendar year considered tax residents.
• Saint Pierre and Miquelon has double taxation treaties with two countries, including France, to avoid double taxation of income.
• Expats and foreign workers are required to register with the territorial tax authority and obtain a tax identification number to work in the territory.
• Social security contributions are mandatory for all workers, including expats and foreign workers.
• Remittances of income earned in Saint Pierre and Miquelon are subject to withholding tax, which can be reduced or eliminated under a tax treaty.
• Expats and foreign workers may be eligible for tax credits for taxes paid in their home country.

Crypto & Investment Income

• Investment income, such as dividends and interest, is subject to taxation in Saint Pierre and Miquelon.
• Cryptocurrency is considered an asset for tax purposes, and gains from the sale of cryptocurrency are subject to capital gains tax.
• Taxpayers are required to report their investment income and cryptocurrency transactions on their tax returns.
• There are no specific tax incentives for investing in cryptocurrency or other digital assets in Saint Pierre and Miquelon.