Tax credit of 10% for investment in Corsica (20% for priority sectors)

Article 48 of the Corsica Act rewrites Article 244 quater E of the General Tax Code. SMEs (fewer than 250 employees, turnover below €40 million or balance sheet below €27 million) taxed under a real regime receive an income or corporate tax credit equal to 10% of the pre-tax cost of new productive investments operated in Corsica and made until 31 December 2011. The rate rises to 20% for hotels, restaurants and leisure, new technologies, energy, industry, certain farming and agri-food activities and consultancy-engineering. The scheme applies on an option basis, which entails giving up the exemption regimes of Articles 44 sexies, 44 decies, 208 sexies and 208 quater A, to investments made from 1 January 2002.