THE HAGUE, WILLEMSTAD - The amendment to the Netherlands-Curaçao Tax Arrangement (BRNC) is set to significantly enhance Curaçao's investment climate, according to State Secretary Van Rij. This statement comes in response to concerns raised by the Parliament of Curaçao regarding potential investment losses.
Van Rij highlighted that Curaçao's attractiveness as a business hub is largely due to the legal certainty provided by a stable fiscal climate. He also pointed out other crucial factors, such as Curaçao's strategic geographical location—particularly advantageous for companies targeting the Latin American market—and its well-developed service sector.
"The BRNC modernizes the rules, thus contributing to Curaçao's investment appeal. By doing so, Curaçao aims to retain and attract companies with substantial economic presence," said Van Rij. He emphasized that this modernization would positively impact payroll and sales taxes, while the resultant employment would help reduce social security expenses.
For Curaçao's investment climate, the amendment is essential as it underscores the island's readiness and capability to comply with prevailing international fiscal standards. Van Rij expressed confidence that the amendment would not deter potential investments, even though this cannot be definitively confirmed at this stage.
"The presence of an agreement to prevent double taxation with the Netherlands is undoubtedly seen as a positive factor by investors," Van Rij added.
This strategic move is expected to position Curaçao favorably in the eyes of global investors, ensuring continued economic growth and stability.