New OECD-report: Tax policy is playing a key role in promoting economic recovery and responding to the energy price shock
Tax policy is playing a critical role as countries seek to promote economic recovery from the COVID-19 pandemic and respond to the impact of rapid increases in energy prices, according to a new OECD report Tax Policy Reforms 2022. This has been announced with a news release on the website of the OECD. Tax Policy Reforms 2022 describes recent tax reforms across 71 countries and jurisdictions, including all OECD members ...
IMF Staff Concluding Statement: ‘Sint Maarten should strengthen its tax administration, followed by the tax policy reform designed to broaden the tax base, streamline the system, and improve collections’ (Sint Maarten)
The Staff Concluding Statement of a recent IMF Staff Visit Curaçao and Sint Maarten has been published on the website of the International Monetary Fund (IMF) on November 30, 2021. An IMF mission met virtually with the authorities of Curaçao and Sint Maarten during November 8–24 to discuss recent economic developments, update the macroeconomic outlook, and follow up on the policy priorities raised during 2021 Article IV consultation discussions. The ...
Presentation in Parliament by the Minister of Finance on the Tax Reforms and response to questions central committee (Sint Maarten)
On August 30th 2021, the Minister of Finance of Sint Maarten held a presentation for Members of Parliament (Staten van Sint Maarten) on the status of the tax reforms. The title of the powerpoint-presentation was: “Fiscal Reform for Sint Maarten. Feasible. Socially & Financially Necessary”. Upon his presentation, the Minister also presented a technical report dated April 2021 prepared by the Fiscal Affairs Department (FAD) of the International Monetary Fund ...
News release Minister of Finance to clarify tax reform concerns (Sint Maarten)
The Minister of Finance of Sint Maarten seeks to alleviate confusion and encourage healthy discussions regarding the ‘suggested’ tax reforms as recently presented to Parliament, according to a news release on the website of the Government of Sint Maarten. The Ministry of Finance has presented the suggestions in Parliament with the hopes of prompting an open discussion on Tax Reform, wherein the community would feel free to ask questions, express ...
The Governor of Sint Maarten in his address on the occasion of the opening of the parliamentary year 2021-2022: the Government plans to start with the optimizing and modernizing of the tax administration and will develop proposals to modernize the tax system (Sint Maarten)
On the occasion of the opening of the parliamentary year 2021-2022 the Governor of Sint Maarten last Tuesday, 14 September 2021, His Excellency Drs. Eugene B. Holiday, delivered his address to Parliament. In his address attention has been paid to the plans of the Government in the field of taxation. It concerns the tax reforms plans of the Government: the plans to modernize the tax system and to optimize and ...
Labour market disruption and COVID-19 support measures contribute to widespread falls in taxes on wages in 2020
The COVID-19 crisis has resulted in the largest decrease in taxes on wages since the global financial crisis of 2008-09, according to a new OECD report: Taxing Wages 2021. This has been announced with a press release on the website of the OECD on the occasion of the release of the report. Furthermore from the press release referred to above: The COVID-19 crisis has resulted in the largest decrease in ...
Aanbevelingen ATIA/AHATA/AVVB bij invoering van een BTW-stelsel (Aruba)
Bij brief van 23 april 2021 aan de Minister van Financiën, Economische Zaken en Cultuur van Aruba hebben de Aruba Trade & Industry Association (ATIA), de Aruba Hotel and Tourism Association (AHATA) en de Arubaanse Vereniging van Belastingadvisers (AVVB) een aantal aanbevelingen en suggesties gedaan ingeval in het kader van de aangekondigde belastinghervormingen zou worden overgegaan tot de invoering van een BTW-systeem (belasting over de toegewaarde waarde). Hieronder nemen wij ...
IMF Article IV Consultation: belastinghervormingen met verschuiving van directe naar indirecte belastingen gepland voor 2023, maar IMF beveelt versnelde invoering BTW aan (Aruba)
Op 21 april jl. is door de ‘Executive Board’ van het Internationaal Monetair Fonds (IMF) een persbericht uitgegeven inzake de ‘Artikel IV-consultatie-gesprekken’ met Aruba over economische ontwikkelingen en economisch beleid (de ‘Article IV Consultation Discussions with the Kingdom of the Netherlands—Aruba’). De gesprekken werden op 16 april jl. afgerond. Het voornoemde persbericht bevat ook de ‘Executive Board Assessment’. Aan de basis van de gesprekken lag het Staff report van 31 ...
Belastinghervormingen in master plan ‘Repositioning our Sails’ (Aruba)
Op 16 november 2020 heeft de regering van Aruba het master plan getiteld “Repositioning our Sails” gepubliceerd. Dit is bekendgemaakt met een nieuwsbericht op de website van de overheid. Daarbij is ook bekendheid gegeven aan de lancering van de website www.repositioningoursails.com. Het master plan is (in het engels) opgesteld door het Committee Economic Recovery and Innovation Aruba en is voluit genaamd: “Repositioning our Sails: Aruba’s Mission Driven Model for Economic ...
Minister of TEATT unveils Economic Recovery Plan. Overhaul of the tax system to create an attractive business climate through innovative fiscal reform (Sint Maarten)
The Minister of Tourism, Economic Affairs, Traffic and Telecommunication (TEATT) Ludmila de Weever unveiled her economic recovery plan to the Parliament of Sint Maarten, during a meeting on 21 October 2020. The plan is called “A Path to Economic Recovery & Sustainable Growth.” This has been announced in a press release dated 22 October 2020 as posted on the website of the Government of Sint Maarten as well as with ...
Nota ‘2020 SXM Recovery within Recovery: Structural Reform Initiative’: belastingaangelegenheden uitgelicht (Sint Maarten)
Bij brief d.d. 10 juli 2020 heeft de staatssecretaris van Binnenlandse Zaken en Koninkrijksrelaties de Tweede kamer geïnformeerd over de besluitvorming in de Rijksministerraad van vrijdag 10 juli (gisteren) inzake (financiële) ondersteuning aan Aruba, Curaçao en Sint Maarten. Voor meer informatie over deze brief zie dit artikel in het CFN van vandaag. Vooruitlopend op de besluitvorming in de Rijksministerraad (RMR) werd het College financieel toezicht Curaçao en Sint Maarten (Cft) ...
Tax and fiscal policy should continue to support households and businesses through containment, then shift to bolstering recovery
Tax and fiscal policy responses are playing a critical role in limiting the hardship caused by containment measures, and should continue to do so as governments seek to support households and businesses, protect employment and pursue economic recovery from the global pandemic, according to new OECD analysis. ‘Tax and Fiscal Policy in Response to the Coronavirus Crisis; Strengthening Confidence and Resilience’, a report requested of the OECD by the Saudi ...
OECD-report Revenue Statistics 2019 released: Tax revenues have reached a plateau
Tax revenues in advanced economies reached a plateau during 2018, with almost no change seen since 2017, according to new OECD research. This ends the trend of annual increases in the tax-to-GDP ratio seen since the financial crisis. The 2019 edition of the OECD’s annual Revenue Statistics publication shows that the OECD average tax-to-GDP ratio was 34.3% in 2018, virtually unchanged since the 34.2% in 2017. The release of the report was ...
IMF Staff Concluding Statement of the 2019 Article IV Mission to Curaçao and Sint Maarten
Op 2 december 2019 is op de website van het Internationaal Monetair Fonds (IMF) de zogenoemde “Staff Concluding Statement” gepubliceerd met betrekking tot de ‘Article IV mission’ naar Curaçao en Sint Maarten. Een “Concluding Statement” beschrijft de voorlopige bevindingen van de IMF-delegatie na afloop van een officiële missie naar een land. De Concluding Statement vangt aan met de volgende korte samenvatting van de bevindingen: “The monetary union of Curaçao and ...
Taxes on polluting fuels are too low to encourage a shift to low-carbon alternatives
Taxing polluting sources of energy is an effective way to curb emissions that harm the planet and human health, and the income generated can be used to ease the low-carbon transition for vulnerable households. Yet 70% of energy-related CO2 emissions from advanced and emerging economies are entirely untaxed, offering little incentive to move to cleaner energy, according to a new OECD report as announced in a press release published on ...
As the pace of tax reform slows, countries are urged to take bolder action
The pace of tax reforms has slowed across most leading economies and bolder tax reforms will be needed to address future challenges, according to a new OECD report. This was announced in a press release published on the website of the OECD. Tax Policy Reforms 2019 describes the latest tax reforms across all OECD countries, as well as in Argentina, Indonesia and South Africa. The report identifies major tax policy trends and ...
Minister Geerlings kicks-off Tax Transformation Project with presentation to the tax department (Sint Maarten)
On Wednesday August 21, the Tax Transformation Project was kicked off with a presentation meeting with the entire staff of the Tax Department, Minister of Finance Hon. Perry Geerlings said on Sunday. This was announced in a press release dated 26 August 2019 published on the website of the Government of Sint Maarten. The purpose of the presentation meeting was not only to kickoff and present the Tax Transformation Project, ...
Minister Geerlings meets with SHTA to inform about the tax transformation plan to secure the country’s future (Sint Maarten)
On July 31, Minister of Finance Hon. Perry Geerlings presented the Tax Transformation Plan to the board of directors of the Sint Maarten Hospitality and Trade Association (SHTA). The SHTA is the largest private business representative organization in the country. This has been announced in a news item on the website of the Government of Sint Maarten. During the Minister’s presentation, Geerlings highlighted the need for tax transformation and the ...
Minister Geerlings commenced stakeholder sessions about tax transformation plan to secure country’s future (Sint Maarten)
Minister Geerlings is presenting his Tax Transformation plan to all key stakeholders on Sint Maarten. This was announced with a press release on the website of the central government of Sint Maarten. From the press release: On May 23 and June 10th, the Minister of Finance Hon. Perry Geerlings presented the Government’s Tax Transformation Plan to the Social Economic Council (SER). During the Minister’s presentation, Geerlings highlighted the urgent need ...
Short-term investment solution in transforming tax administration to take three years, Minister of Finance says (Sint Maarten)
The short-term investment of Naf.37 million in the Capital Account for Transforming the Tax Administration is divided into Naf.32 million for the upgrading of the Tax Department and another Naf.5 million for the necessary improvements in Public Financial Management as noted in the 2015 Kingdom Instruction, Minister of Finance Hon. Perry Geerlings said on Monday, according to a press release dated 26 June 2019 published on the website of the ...
Transforming tax administration to result in economic revival and secure government finances and investments, Minister of Finance says (Sint Maarten)
The Minister of Finance of Sint Maarten Hon. Perry Geerlings said on Thursday that the transformation of the country’s Tax Administration will result in further national economic recovery and providing a sustainable secure system for future government finances and necessary investments into the public sector, according to a press release dated 21 June 2019 published on the website of the Government of Sint Maarten. From the press release: “For years ...
Reforms in a few countries drive a decline in average OECD labour taxes
Income tax and social security contributions declined slightly for the average worker across the OECD in 2018, driven by major reforms in a handful of countries, according to a new OECD report. This was announced by the OECD with a press release dated 12 April 2019. Taxing Wages 2019 shows that the “tax wedge” – total taxes on labour costs paid by employees and employers, minus family benefits, as a ...
Tax reforms accelerating with push to lower corporate tax rates
Countries have used recent tax reforms to lower taxes on businesses and individuals, with a view to boosting investment, consumption and labour market participation, continuing a trend that started a couple of years ago, according to a new report from the OECD. This has been expressed by the OECD in a press release on its website covering the release on 5 September 2018 of the report "Tax Policy Reforms 2018; ...
Better design of taxes on personal savings and wealth is needed to support inclusive growth
The taxation of personal savings and wealth varies widely, offering governments significant scope for tax reforms that simultaneously improve both the efficiency and fairness of their tax systems, according to two new OECD reports as the OECD announced on 12 April 2018 in a press release. The reports – Taxation of Household Savings and The Role and Design of Net Wealth Taxes - recognise that taxes are among the most effective tools governments have ...