ARTICLE · 10 OCTOBER 2018

Implications Of Changes In Curacao Tax Laws

TMF Group BV

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In June of 2018, The Parliament of Curaçao has approved new legislation that has made significant changes in the General Ordinance on National Taxation, the Profit Tax Ordinance 1940 and the National Ordinance.

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In June of 2018, The Parliament of Curaçao has approved new legislation that has made significant changes in the General Ordinance on National Taxation, the Profit Tax Ordinance 1940 and the National Ordinance.

These amendments will mostly affect preferential tax regime companies and also include some administrative requirements for tax matters. Most changes will go into effect 1 January 2019.

Getting in line with OECD recommendations

The Organization for Economic Cooperation and Development (OECD) has minimum standards and guidance for preferential tax regimes. They have looked at Curaçao and realized that the tax legislations in place were not fully aligned with their recommendations. Curaçao has made the necessary legislative changes which will allow for compliance with the OECD.

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