A beneficial policy announcement from Aruba's Ministry of Finance and Culture was published in the Official Gazette on 4 November 2022, which extends the beneficial policy for the reduction of dividend income tax for individuals. First introduced in 2019 and subsequently extended in response to COVID-19, the beneficial policy provides for a reduced tax rate on dividends of 10%. As extended in the latest announcement, the beneficial policy provides that dividends distributed from profit reserves accrued up to 31 December 2022 are eligible for a reduced tax rate of 10%. To qualify, the dividends must be made available to the shareholder resident in Aruba during the calendar year 2022 or 2023 and must be paid in full within a maximum of five financial years after the financial year of availability. If at the end of the five-year period an amount of the dividends made available still remain on the balance sheet of the distributing company, the Inspector is entitled to charge the standard rate (25%) on this amount and to impose a provisional or final income tax assessment in the year following the end of the said term. It is also noted that no dividend tax is payable in Aruba with regard to dividend distributions from entities established outside Aruba. To claim the beneficial policy, the tax authorities must be informed in writing so that it is able to impose a provisional income tax assessment for the relevant tax year.