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Minister Irion clarifies Tax Reform concerns

By   /  September 20, 2021  /  Comments Off on Minister Irion clarifies Tax Reform concerns

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Minister of Finance seeks to alleviate confusion and encourage healthy discussions

In light of recent presentations, it bodes well that the community

is creating a dialogue regarding the recent tax suggestions, as this was the desired effect. The

Ministry of Finance has presented the suggestions in Parliament with the hopes of prompting an

open discussion on Tax Reform, wherein the community would feel free to ask questions,

express concerns and make constructive propositions.

The Ministry of Finance is currently engaging in a process that will include consultations with

public and private stakeholders alike. These consultations will give the community the

opportunity to be part of the broader and more complicated discussion on overhauling the tax

system of Sint Maarten.

The suggestions presented were recommendations made by the International Monetary Fund

(IMF), as proposed options for the implementation of a new tax system. The current tax system

of Sint Maarten, inherited from the former Netherlands Antilles, is very outdated, vulnerable to

abuse and not appropriate in the current economic reality of Sint Maarten.

The recommendations and proposals made by Cartac/IMF do not mean that they have been

agreed upon, nor do they mean they will be implemented. For the sake of full transparency, they

were presented to the public; the report has been provided to the Members of Parliament. The

objective is to engage Parliament and the public in general, as stakeholders. To facilitate progress

of Tax Reform, it is important to remain clear about the facts

The Tax Reform has been an objective of previous governments as it is for the current

government. It is urgently needed. However, it is not something that can be introduced overnight.

It requires the proper preparation and calculations of the effects before it can be tabled in

Parliament.

The Ministry of Finance seeks to provide the public with clear communication regarding the Tax

Reform and will do so by continuing to deliver information now and in the future. 

Source: sintmaartengov.org

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