WILLEMSTAD – In the first quarter of 2025, tax revenues on Curaçao increased by more than twelve percent compared to the same period last year. Social security contributions also rose by nearly seven percent during the same timeframe. These figures were released today by the Tax Office. 

The most significant increase was seen in corporate income tax collections, which generated more than 19 million guilders above the budgeted amount — totaling 76 million guilders compared to the projected 60 million guilders. This additional revenue mainly stems from preliminary filings for the 2024 tax year. The final filings are expected to become available through the online portal by the end of next week. 

Sales tax revenues also exceeded expectations, bringing in nearly eight million guilders more than anticipated (185 million guilders versus a forecast of 177 million). 

However, wage tax collections lagged behind, totaling nearly 116 million guilders compared to the budgeted 131 million guilders. 

Revenue from property taxes (OZB) also underperformed, with nearly 12 million guilders collected against a projected 21 million guilders. The Tax Office plans to address this shortfall by issuing the first property tax assessments for 2025 and intensifying efforts to recover overdue payments, which currently total nearly 192 million guilders. 

Overall, tax revenues in the first quarter exceeded the budget by over 12 million guilders, while social security contributions surpassed expectations by 16 million guilders. 

According to the Tax Office, the positive trend of recent years is continuing, driven by economic growth — which the Central Bank of Curaçao and Sint Maarten projects at 3.2 percent for this year — and stricter enforcement by the Tax Office, the Stichting Belastingaccountantsbureau (SBAB), and Customs.