Martinique Tax Tables 2024 - Tax Rates and Thresholds in Martinique

This page contains the tax table information used for the calculation of tax and payroll deductions in Martinique in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ MQ, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Martinique or would like to add to or suggest amendments to the information herein then please contact us.

Martinique Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Martinique are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Martinique Tax Calculator 2024.

In Martinique, as it is an overseas department of France, social security contributions made by employees are deductible from their gross income for the purpose of calculating taxable income. This aligns with the French taxation system, allowing individuals to deduct their part of the social security contributions when declaring their income tax. This provision helps in reducing the taxable base of the employee, potentially lowering the overall income tax liability and providing a financial relief aligned with the principles of social solidarity and welfare inherent in the French social security system.

Martinique Social Security and Payroll Deduction Rates in 2024

In Martinique, being an overseas department of France, the social security and payroll deduction system closely follows the French model. This comprehensive system is designed to provide coverage for health, family benefits, pensions, and employment injuries, among others. Contributions are made by both employers and employees, funding a wide range of social welfare programs.

In Martinique, as in France, the social security system plays a pivotal role in safeguarding the well-being of employees and their families. The system is financed through contributions from both employers and employees, covering several key areas:

• Health Insurance: Contributions fund access to healthcare services, including doctor visits, hospital stays, prescription medications, and preventive care. This ensures comprehensive health coverage for individuals and their dependents.
• Pension and Retirement: Contributions go towards the pension system, providing retirement benefits to individuals once they reach the retirement age. This system aims to ensure financial security for retirees.
• Family Benefits: The system provides a range of benefits designed to support families, including allowances for childbirth, child rearing, and assistance for dependent family members.
• Employment Injuries and Occupational Diseases: Contributions cover benefits for work-related accidents and illnesses, offering protection to employees in case of workplace injuries or occupational diseases.
• Unemployment Insurance: Contributions fund unemployment benefits, providing financial support to individuals who are temporarily out of work, aiding them in their job search efforts.

Both employers and employees in Martinique are required to contribute to these social security programs, with rates set by the French social security system. Employers are responsible for withholding employee contributions directly from their wages and paying these, along with their own contributions, to the social security administration.

The social security system in Martinique is designed to offer a safety net across various aspects of life, from health and family to retirement and unemployment. It reflects the commitment to social welfare and solidarity that is a hallmark of the French social protection system.

Understanding the nuances of social security and payroll deductions is crucial for employers and employees alike in Martinique. It ensures compliance with legal obligations and provides essential protections and benefits to the workforce and their families.

Martinique VAT Rates in 2024

VAT rates for Martinique are reviewed annually, you can use the VAT Calculator to calculate VAT due in Martinique or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Martinique

The following tax tables are supported by iCalculator™ MQ as part of the suite of free tax tools we provide for Martinique.