Profit Tax Reform
Tax Newsflash Curacao
National Ordinance Tax Reform 2019
Curaçao has a commitment to stand up against tax evasion and tax avoidance and to remove any harmful tax rules. As a result, the Curaçao profit tax has been adjusted in recent years, to align with all the international tax standards.
The legislative amendments that are currently proposed to enter into force as of January 1, 2020 are fully in line with the requirements of, and approved by, the European Union and the OECD. Following the proposed amendments, the Curaçao profit tax will meet all the international substance requirements and the requirements on the prevention of harmful tax practices. Anti-abuse provisions have also been included, to avoid potential abuse of these new rules.
As of 2020, the new tax regime will enter into force and will create quite some opportunities for companies in Curaçao. Depending on the type of business and the level of local real substance, the new tax regime offers low effective tax rates for international business in Curaçao, whilst at the same time all the international tax standards are met.
Download the newsflash for all the details.