Aruba 2019 Personal Income Tax compliance
The Aruba tax authorities issued the 2019 personal income tax return forms. The official issue date is 1 September 2020. In the following days every taxpayer registered for personal income tax will receive their personal income tax declaration form by mail.
The official deadline for submitting the 2019 personal income tax return form is 2 months after the date of issue, being 2 November 2020. However, the Aruba tax authorities extended the deadline by one month making the deadline 2 December 2020. The filing extension automatically applies for every taxpayer. A filing extension request is not necessary.
Documentation and information
It is important to prepare all necessary documents relating to income and related expenses made in 2019 in order to prepare and file the personal income tax return.
Please find below a few examples.
• Income from business and or labor;
• Income from immovable properties;
• Income from investment(s);
• Income from entitlement(s) on recurring benefits, such as the general Aruba old age pension, alimony payments and other similar income.
• Interest and other related costs from mortgage (maximum AFL 50,000 deductible);
• Interests and costs on loans and or credit cards (maximum AFL 5,000 deductible);
• Interests and repayments on study loans (maximum AFL 10,000 deductible);
• Alimony paid to ex-spouse;
• Pension and life insurance premiums paid (maximum AFL 10,000 deductible);
• Donations to religious, charitable, cultural, sporting, scientific and public benefit institutions in Aruba (maximum AFL 50,000 deductible).
The aforementioned list is only to provide examples of the sources of income and deductible expenses and is not exhaustive. Let us know if you have questions and if you would like further information on taxable income and deductible expenses.
Filing compliance and penalties
We advise you to take aforementioned filing information into consideration and avoid any incomplete or late filing. By filing the 2019 personal income tax return on time, the taxpayer avoids an additional assessment and penalties.
We kindly remind that if the 2019 personal income tax return is not filed or filed late, the tax authorities can impose an estimated assessment including a penalty of 5% of the tax due with a minimum of AFL 250 up to AFL 10.000. Taking this into consideration it is important to prepare and file your 2019 personal income tax return completely and within the filing deadline.
We trust that you will find this newsflash helpful. Let us know if you have questions and if you would like further information.
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