THE HAGUE - The Dutch Minister of Foreign Affairs, Bruins-Slot, has petitioned the Dutch Parliament for tacit approval of a tax treaty between Curaçao and San Marino. However, uncertainties loom over whether this approval will be granted. Earlier this year, a similar request for a tax treaty between Curaçao and Malta was rejected by the Chamber. The negotiations for the bilateral treaty between Curaçao and San Marino have been ongoing since 2015, with the primary aim of enhancing economic relations and strengthening administrative cooperation.
Curaçao's decision to pursue a tax treaty with San Marino stems from its ambition to establish such agreements with countries it seeks to engage in more intensive trade relations with. San Marino, akin to Curaçao, is a relatively small country, both in terms of population size and economy, making it an apt partner for negotiation. The envisioned treaty aligns with Curaçao's broader strategy of building a network of tax treaties aimed at fostering ties, facilitating economic activities, and stimulating trade flows between the two jurisdictions.
San Marino, home to approximately 33,000 inhabitants and located as an enclave within Italy, is renowned as a tax haven, attracting individuals seeking to conceal illicit funds from tax authorities. However, Curaçao's assertion of desiring "intensive trade relations" with San Marino lacks further substantiation in the provided documents. Queries regarding the treaty, raised by the Ministry of Foreign Affairs five years ago, have only recently been addressed by the government in Willemstad.
Anticipations suggest that the Chamber will not readily grant approval and may opt for a round of written questions. A similar process unfolded concerning the treaty with Malta, where inquiries are still awaiting responses from the minister. Both treaties are slated for discussion in a plenary debate scheduled for June, with representatives from the Curaçao Parliament also set to participate.