Friday, November 3, 2023

Profit tax rate in Curaçao reduced to 15% on first NAf 500,000 of taxable profit

The Minister of Finance has decreed* that, with retroactive effect, the Curaçao profit tax rate will be reduced to 15% on the first NAf 500,000 of taxable profit as per 1 January 2023. This reduction aims to stimulate economic activity and to encourage businesses to actively contribute to the growth of Curaçao. Taxable profits in excess of NAf 500,000 will remain subject to profit tax at the rate of 22%. At Baker Tilly, we are happy to assist you in claiming this tax benefit when preparing your annual profit tax return. Please contact us to ensure you maximize the benefits provided by this incentive.

* Notification dated 7 July 2023, published in the National Gazette nr. 2023-31 of 4 August 2023