VBC urges fast amendment of fiscal law

August 11, 2008 5:53 AM

The Curaçao Trade and Industry Association (Vereniging Bedrijfsleven Curaçao - VBC) is wondering why Parliament could not have interrupted their recess to put through the amendment of the fiscal law. “There is plenty of reason to proceed to this amendment due to the positive effects for employment, the generation of bills of exchange, more tax revenue for the government, and bigger activity for the international financial and business service sector”, said the VBC.

Following the Cifa, the association of financial services, the VBC called on Minister Ersilia de Lannooy of Finance (PNP) and Parliament a few weeks ago to take joint actions to put the necessary amendment through as soon as possible. “If Parliament could interrupt their recess to consider the proposal to increase the minimum wage with 15 percent, we don’t see why the necessary amendment of the fiscal law cannot be put through with the same diligent.”

The VBC hopes that the minister and Parliament will carry out the recommendations of the Cifa regarding the National Ordinance Profit Tax and the negotiations concerning the adjustment of the BRK as soon as possible; anyhow, before the annual congress of the International Fiscal Association that takes place in Brussels in September. “That would be an effective opportunity to promote the Netherlands Antilles in General and Curacao in particular as attractive fiscal jurisdiction. This would only be positive for Curacao’s economy and society”, said the VBC.

VBC says that we can only guess at the cause for the adjustment process to take so long. Besides, even the Bank of the Netherlands Antilles has in the meantime sounded the alarm and urged to timely amend the relevant law. “The fall of the exchange-revenue that the international financial sector has been generating from way back, but has been showing a falling-off in the past two years, can this way be stopped and changed.”

(Source: National Newspaper Amigoe)

August 7, 2008