Curacao updates Turnover Tax compliance and rates
Sat 4th May 2013
The Curacao Parliament has enacted a number of changes to the Turnover Tax regime, including:
- Turnover tax is now due on goods imported on a tax free basis, but subsequently sold for a taxable supply
- The Turnover Tax rate will be 6%. Insurance premiums and tourist services will be at 7%. Certain luxury goods, entertainment and hospitality services will be at 9%.
- Water and power are now subject to Turnover Tax
- Services related to immovable property are also now subject to Turnover Tax