Monday , March 20 2023

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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