WILLEMSTAD - Curaçaoan taxpayers can expect a temporary discount of 2,500 guilders if they file their 2023 tax return on time. This decision, made by the Council of Ministers, is part of a plan to clean up the records at the Tax Collector's office.
The discount, also referred to as a "tax credit," will not be paid out but will be credited to the taxpayer's account with the tax office. The credit is intended to offset outstanding or future taxes, such as property tax (OZB) for 2025. Both individuals and businesses are eligible for the discount, which remains valid for two years.
Conditions
Taxpayers must meet certain conditions to qualify for the discount. For individuals and sole proprietors, their income tax return for 2023 must be submitted by December 1, 2024, but only if they have been invited to file by the tax inspector. Those who have not received an invitation will automatically receive the discount.
For businesses subject to corporate tax, their final tax return must also be submitted by December 1, 2024. Employers paying payroll taxes must submit their collective payroll statement for 2023 by November 1, 2024. This requirement applies even if the business is no longer operational or has no employees. In such cases, a so-called "nil return" is sufficient.
Details to Follow
The Ministry of Finance is currently working on the finer details of this plan. The tax credit is designed to encourage taxpayers to file on time and to help clean up the tax office's administration. With this measure, the government also hopes to expedite the payment of future tax debts.
The tax discount is a temporary measure, and taxpayers have until the end of 2024 to meet the conditions and take advantage of its benefits.