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D.

APPROVAL PROCEDURE

To be entitled to a tax deduction, subscriptions whose

total amount per program per year exceed €500,000,

must have been given prior approval from the Executive

Council of the

Collectivité

of Saint-Martin.

This approval process applies regardless of the amount

for investments in transportation, recreational boating,

agriculture, sea fishing and aquaculture, the coal and steel

industries, shipbuilding, synthetic fibers, the automotive

industry or the renovation and rehabilitation of classified

hotels, tourist residences and holiday villages or firms in

difficulty, or which are necessary for the operating of an

industrial or commercial local public service concession.

Approval is granted if the program presents an economic

interest for the

Collectivité

, if it allows the creation or

maintenance of jobs in Saint-Martin and is in line with

spatial planning and environmental policy.

u

These fiscal arrangements apply to investments and

sales made up to 31 December 2020.

23

JUNE 2014 EDITION

GENEROUS TAX INCENTIVES