French Budget Minister Eric Woerth and Overseas Minister Marie-Luce Penchard have announced that a new measure designed to apply a sliding scale to the exemption from social charges accorded to overseas employers, will enter into force from January 1, 2010.
Contained in the law for the economic development of French overseas departments and territories (LODEOM), the measure aims to facilitate the employment of laborers, employees and middle managers, particularly young overseas workers, by granting enhanced exemptions from social contributions to very small businesses, and to companies located in priority areas. The measure is not intended to benefit the recruitment of highly paid employees.
The European Commission approved the provision contained in the LODEOM, granting exemption from social contributions, on November 19, 2009. This was a prerequisite for the application of the new measure introducing a sliding scale.
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