WILLEMSTAD – The Board of Financial Supervision (Cft) says Curaçao’s government continues to provide insufficient information about reforms of the Tax Department, improvements at the Tax Collector’s Office and efforts to strengthen government financial management.
The criticism is contained in the Cft’s September 11 response to Curaçao’s second implementation report for 2026.
According to the financial supervisor, the report contains no substantive additional information on several important dossiers despite similar concerns being raised following the first-quarter report.
Information about the reform of the Tax Department is missing, as is information previously requested concerning implementation of improvement measures at the Tax Collector’s Office.
The Government Accountants Bureau Foundation (SOAB) is responsible for assessing the progress and implementation of those improvement measures.
However, the Cft said it has received no information about the status or findings of SOAB’s assessment.
Similar concerns apply to the government’s “Improvement of Financial Management” program.
The Cft said the second implementation report fails to provide the clarity about progress and planning that had been promised following the first report.
According to the financial supervisor, the explanation provided by Curaçao is insufficiently concrete and does not identify results already achieved, actions that remain outstanding or a timetable for completing them.
The criticism comes at a time when Curaçao’s tax revenues are performing significantly better than expected. Collections reached XCG 1.047 billion through the second quarter, XCG 84 million above budget.
The Cft’s concerns therefore focus less on current revenue performance and more on whether the institutions responsible for taxation, collection and public financial administration are being structurally strengthened.