CURACAO & PRIVATE CLIENTS: A PRACTICAL (TAX) LAW GUIDE

The law and leading lawyers worldwide

Spigt Dutch Caribbean contributed to this years edition of the PLC Practical Law Guide for Private Clients. Click here for the Curacao chapter and visit PLC for the full guide.

Practical Law Company (PLC) is the leading provider of legal know-how, transactional analysis and market intelligence for lawyers. PLC works closely with law firms and in-house law departments to provide innovative and practical solutions in know-how, technology and practice development.

Karel Frielink

(19 March 2013)

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19
Mar 2013
CATEGORY

Tax

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CURACAO TAX REFORM 2011

New Opportunities for the International Sector

The Curacao tax reform 2011 was recently adopted by the Curacaoan parliament. The Curacao tax reform 2011 has some interesting features for the international financial sector. The expectations are that more features will follow during the next few years, however, no formal announcements have yet been made in this respect. A switchover from direct to indirect taxation is already evident in the Curacao tax reform 2011, although still on a modest scale. Expectations are that this trend will continue. Personal and corporate income tax rates will decrease, while turnover tax will increase from 5% …
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14
Oct 2011
CATEGORY

Tax, Various

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VOLUNTARY DISCLOSURE AND THE HUNT FOR UNDISCLOSED ACCOUNTS BY US AND DUTCH TAX AUTHORITIES

Propaganda machines up to speed

Publicity efforts by the US and Dutch tax authorities indicate that the hunt for undisclosed accounts in typical offshore jurisdictions is still a hot item. Although Curacao was not mentioned by the US authorities, the Dutch tax authorities announced a new search for undisclosed accounts in Curacao based on information provided by the French tax authorities. The IRS announced a new voluntary disclosure program which mitigates the risk of criminal prosecution in exchange for paying taxes, interest and a standardized penalty. Furthermore, the IRS announced that they will follow ‘new leads’ emanating from voluntary disclosures. …
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02
Feb 2011
CATEGORY

Tax

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REQUESTS FOR INFORMATION BY FOREIGN TAX AUTHORITIES

A request for information needs to contain specific information

The former Netherlands Antilles concluded several tax information exchange agreements (‘TIEA’) during recent years. These TIEAs also apply to the newly formed country Curacao. The Tax Arrangement for the Kingdom (‘TAK‘) is applicable within the Kingdom of the Netherlands, which includes Curacao. Article 37 of the TAK also contains the facilities for the exchange of information within the Kingdom.

Without a TIEA in place or a specific article in a double tax treaty facilitating the exchange of information between the treaty parties, the Curacao tax authorities would be prohibited from effectively exchanging …
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21
Dec 2010
CATEGORY

Tax

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