QUEEN BEATRIX ABDICATES IN FAVOR OF SON
The Queen will formally stand down on 30 April 2013
Queen Beatrix of the Netherlands announced earlier today that she will abdicate on April 30 after 33 years as head of state. The abdication secures the Dutch throne for Crown-Prince Willem-Alexander at the age of 45.
“Responsibility for our country must now lie in the hands of a new generation,” Queen Beatrix said in a short televised statement.
Karel Frielink
(28 January 2013)
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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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CARIBBEAN KIDS NEWS
CKN is seeking financial support
Caribbean Kids News (CKN) is a unique program for Aruba, Bonaire, Curacao, St. Maarten, St. Eustatius and Saba, thus for six very special but quite different islands.
For the first time a news program informs young people between 9 and 14 years and gives them a voice in the Caribbean region. The Caribbean Kids News broadcasts since September 2009 in English and Papiamento (with subtitles in Dutch or English).
The Foundation Youth into Media, a nonprofit organization responsible for the sustainable development of this youth news program, is looking for businesses, organizations and private persons willing …
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WHAT YOU SHOULD KNOW ABOUT GEERT WILDERS BEFORE LISTENING TO HIS SPEECH ON 9/11
Geert Wilders: “There is nothing wrong with Islam”
The Dutch congressman Geert Wilders (Freedom Party (Partij voor de Vrijheid)) will deliver a speech on September 11, 2010 in New York in opposition to the proposed building of a mosque close to Ground Zero. He will not only condemn the followers of Islam, but also Islam itself. He has already talked about a “dreadful mosque”. It is a great pity that he makes these sorts of statements. About 10 years ago Geert Wilders had very different opinions.
On September 24, 2001 Geert Wilders was a guest on the Dutch TV program …
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INADEQUATE CAPITALIZATION OF AN ARUBAN COMPANY
Liability for thin-capitalization?
In terms of ‘piercing the corporate veil’, thin or inadequate capitalization usually means capitalization that is not in proportion to the nature of the risks the business of the corporation necessarily entails; in other words it is based on likely economic needs rather than legal requirements.
Shareholders of a company in Aruba are under an obligation to pay to the company what is due with respect to the shares, i.e. the shareholder’s capital contribution, and such contribution may not be withdrawn without due process. This is the only financial obligation of a shareholder towards the company, unless …
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DUTCH GOVERNMENT INJECTS $13 BILLION IN ING GROUP
Restoring confidence is key
Recently, the Dutch government acquired all shares in the capital of the Dutch subsidiary of Fortis, i.e. Fortis Bank Nederland, including ABN AMRO Bank.
Furthermore, the Dutch government has set aside $27.5 billion of capital to protect the financial institutions of the Netherlands. Although there are many banks that have enough capital to get them through this period of market turmoil (a ‘credit tsunami’, according to Alan Greenspan), many of these financial institutions are not in a position to lend money at the levels that are necessary to support the Netherlands …
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