Parliament set to
change tax laws
WILLEMSTAD--Parliament will debate on the draft law on taxes during its public meeting on Thursday. Parliament has to agree to the draft law for the treaty signed recently between the Netherlands Antilles and United States of America (USA) on exchanging tax information between the two countries to go into effect.
Approving the draft law will open more possibilities for trade with USA, State Secretary of Finance Alex Rosaria stated in a press release. He said the treaty would fortify the Netherlands Antilles’ position as a high-quality international financial centre. Exchanging tax information with the USA will prevent fraud and tax evasion, and is an instrument to combat financing of terrorism.
Besides exchanging tax information, the treaty also makes it possible for USA companies that want to organise business seminars in the Netherlands Antilles to receive tax deductions. “This means diversification for our tourist sector,” said Rosaria.
In addition, if Parliament approves the treaty, it will mean that the Netherlands Antilles will meet all conditions set to receive preferential treatment based on the Caribbean Basin Trade Partnership Act (CBTPA). “Countries that qualify for the CBTPA programme can export to the USA without paying import duties,” said Rosaria.
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