THE STORAGE OF TAX RELATED DOCUMENTS
Statutory requirements for keeping documents
For Netherlands Antilles tax purposes and according to the General Ordinance on National Taxes (this law contains general rules applicable to the income tax, wage tax, profit tax, ship registration tax, conveyance tax, inheritance and transfer tax, ground tax, turnover tax {St. Maarten} and sales tax) there are some statutory requirements for keeping documents. However, there are no specific restrictions as to keep them within the Netherlands Antilles.
Some of the rules are as follows:
– A company is obliged to supply the Inspector of Taxes (on his request) with data and information which is or can be significant for the levy of taxes from itself. All data carriers or its content, with regard to the aforementioned, have to be made available on request of the Inspector of Taxes (and at the discretion of the Inspector of Taxes).
– If the data carriers of a company are at the location of a third party/person then the third party/person is also obliged to make all data carriers that can be significant for the levy of taxes from the person or company available on request of the Inspector of Taxes.
– If a company owns direct or indirectly at least 50% of the shares or has a say in another company then the first mentioned company is also obliged to make the data, information and all data carriers that can be significant for the levy of taxes from that other company available on request of the Inspector of Taxes.
– The administration must be kept for 10 years.
If a company cannot comply (on time) with the aforementioned criteria then it is possible that a fine can be imposed. In some cases even criminal prosecution is possible (imprisonment).
Karel Frielink
Attorney (Lawyer) / Partner
