WILLEMSTAD — The Social and Economic Council (SER) of Curaçao has issued an official advisory opinion on a draft bill from the Minister of Finance aimed at reforming the island’s profit tax system. The advisory stresses the importance of transparency, feasibility, and a long-term vision when making fiscal policy decisions. 

The SER acknowledges the urgent need to modernize Curaçao’s outdated tax structure but warns that reforms must not only aim for efficiency, but also be socially responsible and effective. The Council emphasizes that particular attention should be paid to the broader impact of the reforms on economic stability and social cohesion. 

The advisory also raises concerns about certain fiscal incentives included in the proposal, such as investment deductions. The SER warns that such measures could lead to inefficiencies and doubts the effectiveness of lowering the profit tax rate to 15 percent as proposed in the draft legislation. 

Furthermore, the Council recommends that greater room be made within the income tax system for deductions related to health care and social welfare—alternatives it considers more socially relevant and beneficial to the broader community. 

The SER’s recommendations now lie with the Ministry of Finance as it considers the next steps in reshaping Curaçao’s fiscal landscape.