WILLEMSTAD - Curaçao has signed a tax treaty with the Republic of San Marino. The treaty aims to prevent double taxation between Curaçao and San Marino.
The treaty, resulting from intensive collaboration between the Ministry of Finance, the Department of Foreign Relations, and the Ministry of Foreign Affairs, regulates taxation on income for residents of both countries. This treaty also includes provisions to prevent tax evasion and avoidance, exchange of information, and assistance in tax collection.
According to Finance Minister Javier Silvania, the signing is a step towards Curaçao's network of tax treaties, aimed at sustainable economic development. The text of the treaty will be published soon in the Treaty Gazette and will come into effect after national approval procedures in the Kingdom and San Marino.
The ceremony took place at the Palazzo building in San Marino.