WILLEMSTAD - The Curacao Business Association is worried about purchasing power when the sales tax increases. President Clark Russel says that his organization is very concerned about this situation on the island.
One of the measures taken by the government to save on the budget is the increase in sales tax. According to Russel, the measure works against good intentions to grow the economy. He refers to the agreements that were made at the end of last year in the Convention signed by prime ministers Mark Rutte and Eugene Rhuggenaath.
Downtown Management Organization also spoke negatively about the measure. They said that the increase in the sales tax rate could lead to a loss of income among the hospitality business owners in Punda. The retailers will also have a harder time.