Amendments tax law become effective

October 06, 2011 9:29 AM

The Tax Department Caribbean Netherlands launched a campaign to inform the taxpayers on the various amendments in the Tax law BES that is to become effective on 1 October.

Private persons will notice several amendments, such as the increase of the general tax-free amount and the adjustment of the family allowance and the old-age allowance. An inflation correction of 5.9 percent and a supplementary increase of 5 percent, applies for all three. The old-age allowance has an increase of 1.022 dollars on a yearly basis. The measure will become effective per October 1st 2011.

The ABB-rate for services will be reduced per October 1st from 8 to 6 percent on Bonaire and from 6 to 4 percent on Saba and St. Eustatius. The ABB-rate for the (import of) good remains unchanged.

For travelers, but also for the inhabitants of the BES-Islands who return after a stay elsewhere, an exemption of 500 dollars instead of 175 dollars applies for importing goods.

Adjustments will also be made on importing a vehicle on Saba and St. Eustatius. Expectations are that the parliament in The Netherlands will discuss these proposals even before the New Year.

The Tax Department/CN has made pamphlets for private persons and entrepreneurs that are available at the Tax Office. The pamphlets can also be downloaded via the website www.belastingdienst-cn.nl.

1 October 2011