SER Curaçao issues advice on temporary tax revenue restructuring regulation

Willemstad, June 19, 2024 – The Social-Economic Council (SER) of Curaçao issued its advice today to the Minister of Finance on the draft national ordinance for the temporary regulation on remediation of tax revenues and the amendment of the 1999 national ordinance on Sales Tax. This advice follows a request from the Minister at the end of December last year.

The draft National Ordinance aims to introduce a temporary remediation package that financially encourages taxpayers in Curaçao to pay their outstanding tax assessments. This package includes, among other things, a temporary payment discount for lump sum payments and a one-time waiver of the collection of amounts owed for the tax years 2017 and prior.

The SER’s comprehensive opinion assesses the effectiveness of the remediation package in managing tax debts and ensuring tax compliance. Additionally, the advisory council stresses the importance of a realistic government budget and the efficient use of tax collection capabilities.