On Wednesday, August 29, 2018, the Congress of New Caledonia passed the country law aimed at establishing an export tax credit carried by the Government of New Caledonia and New-Caledonia Trade & Invest.

The export tax credit country law presents two tax measures :

• A tax credit for expenses related to commercial prospecting for export (it is capped at FRF 50 million and limited to fifteen successive years) This tax credit will mainly cover travel expenses, participation in trade fairs and missions, market research, translation and interpretation, protection of industrial property rights on foreign markets, adaptation of a product or service on a foreign market and lawyers' fees related to the conclusion of international contracts.

• A tax advantage to compensate for the payment of additional export cents Caledonian exporters will have a tax advantage to compensate for additional export cents more generally called "export tax". Companies will be able to benefit from a deduction from taxable income equal to twice the amount of the additional centimes included in the calculation of the patent. The additional cents are a tax calculated on the basis of the annual volume of exports.