WILLEMSTAD – Tax revenues in Curaçao have risen by 8.9% in 2024 compared to the previous year, according to the government’s financial report Vogelvlucht. This increase amounts to an additional ANG 113.1 million collected compared to 2023 and ANG 33 million more than originally budgeted.
The growth was largely driven by a 13.5% increase in sales tax (OB), contributing ANG 78 million. Social insurance premiums also saw a significant rise of 11.1%, eliminating the need for government contributions to the AOV fund.
Minister of Finance Javier Silvania (MFK) attributed the strong results to improved compliance with tax regulations and more efficient internal processes. The 2024 economic growth rate of 5.4% was outpaced by the even greater increase in tax and premium revenues.
Further details on these developments are expected in the upcoming quarterly report from the Tax Office.