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Curacao Temporarily Relaxes Conditions for Property Development Tax Holiday — Orbitax Tax News & Alerts

Curacao's Ministry of Finance announced a decision on 21 June 2021 to relax the conditions for the tax holiday incentives for property (land) development. One of the main conditions for the tax holiday is that at least 80% of the residences in a property are sold or rented to foreign persons. However, due to the impact of the COVID-19 pandemic, it has become difficult for investors to meet this condition. As a result, it has been decided to reduce this condition to at least 20%. The reduction is to apply until further notice.