General Consumption Tax simplifications
The South Pacific French territory of New Caledonia is to simplify its TGV regime – VAT. The changes will include:
- Consolidating the existing four rates (11% standard; 22% higher; 6% reduced; 3% super reduced) into three rates
- Lowering the VAT registration threshold over three years for goods to XPF 10 million and XPF 4 million for services
- VAT exemption for books
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