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Curacao Extends Tax Remediation Option for Outstanding Tax Debts — Orbitax Tax News & Alerts

Curacao's Ministry of Finance issued a release on 2 November 2021 announcing that the remediation option for outstanding tax debts introduced in July 2021 has been extended from 12 October 2021 to 31 December 2021. The remediation option allows taxpayers to settle outstanding taxes due up to 31 December 2020 by paying a lump sum followed by monthly payments for up to 48 months for any balance due. Depending on the amount of the outstanding tax debt and the lump sum amount paid, a remediation discount is provided. The higher the lump sum, the higher the discount, with a maximum 40% discount provided for lump-sum payments equal to 60% for tax debts up to AWG 100,000 and a maximum 30% discount provided for lump-sum payments equal to 70% for tax debts greater than AWG 100,000. The remediation option is available in respect of income tax, national insurance contributions, employee insurance, property tax, and certain others.