Monday , July 4 2022

Extra revenues new tax system Caribbean Netherlands will be returned to the Islands

The journal VN Vandaag published the following news from the papers of the Second Chamber.
In a fourth letter of amendment to the Tax Plan 2014 some measures have been proposed concerning the property tax for the BES islands in that extra tax-revenues will be returned to the Islands through  tax cuts.
Also, it is proposed that there the first USD 70,000 will be exempted from property tax . Also the Investment Facility that has been introduced on January, 1, 2013 will be extended from five to ten years. This should give a tex incentive for new investors on the Islands.
The effective pressure of the property tax will be reduced from 0.8 % to 0.7 % by January 1, 2015 . In addition, the current reduced effective pressure in the property tax applicable in 2011 and 2012 ,will also be applied in 2013 and 2014 .
Furthermore, the transitional arrangements in the waste tax will be adjusted. This tax abolished on 1 January 2012 will not be  reintroduced by October 1, 2014 but on 1 April 2014.
Finally, the fourth letter of amendment contains a number of amendments of a technical nature which have no substantive meaning .
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