St. Maarten to abolish the regime for the Tax Exempt Company

The Minister of Finance of St. Maarten announced that he will soon submit draft legislation to abolish the St. Maarten Tax Exempt Company (in Dutch “Vrijgestelde Vennootschap”) from the St. Maarten profit tax regime. Existing St. Maarten Tax Exempt Companies can make use of a transitional arrangement until December 31, 2024. This information is derived from the Official Gazette of St. Maarten published on November 3, 2023. From this date (i.e. November 3, 2023), new requests to obtain the status of Tax Exempt Company will no longer be processed by the Inspector of Taxes.

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