BES-seminars on Bonaire and Curaçao

April 18, 2011 7:12 AM

KRALENDIJK/WILLEMSTAD — KPMG Tax & Legal Services organized a seminar on the tax BES-legislation last Thursday March 10th and Friday March 11th 2011 at Harbourvillage Beach Resort, Bonaire and at Avila Beach Resort, Curaçao.

Jeaniro Balentien, who is employed with KPMG Tax & Legal Services on Bonaire, chaired the well-attended seminars.

During his presentation, Jeaniro Balentien diluted on the realization of the tax BES-legislation. Fong-Mang Cheong and Ton van Doremalen (KPMG Tax & Legal Services) subsequently discussed the local aspects of the tax BES-system. Aroen Rambhadjan (KPMG Meijburg & Co) and Ton van Doremalen discussed the international aspects during their presentation. The afternoon on Bonaire was concluded with a presentation from Gerard Meijer (Tax Department Caribbean Netherlands), who explained the functioning of the Tax Department Caribbean Netherlands. The afternoon on Curaçao was concluded by Julian Lopez Ramirez (director Customs Curaçao), who explained several proposals for the new tax regime of Curaçao, followed by an interesting panel discussion.

Since October 10th 2010, the three BES-Islands Bonaire, St. Eustatius and Saba are part of The Netherlands. As of January 1st 2011, these islands have an exceptional tax regime. This is something new within the Kingdom, because it lacks a normal tax on profits. Furthermore, with legal fiction, BES-companies can become a resident of (European) Netherlands as regards taxes.

18 March 2011