PHILIPSBURG--The newly formed National Tourism Organization (NTO) will receive a part of the St. Maarten Timeshare Association tax as soon as government gives the go-ahead.
Timeshare owners currently pay a tax of US $50 weekly. However, according to timeshare association president Michel Soons, it was recently agreed that this US $50 weekly tax would be replaced with a tax of US $8 per day.
That agreement was reached in a meeting between the Executive Council and the association last week.
Soons said it had also been agreed that of the US $8 per day, US $1 per day would be set aside as a contribution to the NTO's marketing fund.
The agreement to replace the weekly rate with a daily one is expected to be welcomed by timeshare owners who have been advocating such a change for sometime now. It is also likely to encourage longer visits.
The Daily Herald understands that timeshare owners have been complaining that at present, should they spend more than seven but less than 14 days at their properties, they would be required to pay taxes for two weeks Ä US $100.
However, under the agreed new arrangement, should they spend, say nine days, they would be required to pay only US $72 - and not US $100 - in taxes.
Meanwhile, the recently established NTO, a public-private partnership responsible for marketing St. Maarten as a prime tourist destination, is currently awaiting a promised NAf. 4 million from the Island Government that is also to be used to market the island.
According to Finance Commissioner Sarah Wescott-Williams, this money should be handed over to the organization very soon.
The NAf. 4 million has been frozen by one of the commercial banks and will be released only when government presents a proposal for the conversion of the island territory's overdraft.
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