The Government of Sint Maarten published a release from the Tax Administration on 10 May 2019 to clarify the tax return requirements of a Private Fund Foundation (PFF). A PFF is a special form of foundation that is similar to a trust but differs in that it is a fully independent legal entity that must be established by notarial deed. The release notes that although a PFF may be exempted from tax as long as it does not gain profits by ‘conducting a business’, a profit tax return must still be submitted along with the required financial statements/annual reports. Based on the filed documents, the Tax Administration will determine whether or not the PFF conducts a business and whether it is, accordingly, exempt from tax.