THE NETHERLANDS ANTILLES IS NOT A TAX-HAVEN
The Netherlands Antilles fully cooperates with the OECD
There are still government officials and others in several countries who believe that the Netherlands Antilles (Curacao) is a tax-haven. They are so wrong!!
Already on December 29, 1999, the Parliament of the Netherlands Antilles approved three tax bills, together known as the New Fiscal Framework (“NFF”). The principal reasons for the enactment of the NFF were the objective of the Government of the Netherlands Antilles to part from its tax-haven image and to revitalize its financial services industry. In order to do this, the off-shore regime was abolished, although grandfathering rules apply.
The Netherlands Antilles is not on the OECD list of uncooperative tax-havens. On the contrary, there are 35 so-called committed jurisdictions (including the Netherlands Antilles) working together with OECD countries under the auspices of the OECD’s Global Forum on Taxation to develop the international standards for transparency and effective exchange of information in tax matters.
The Netherlands Antilles on 1 March 2007, signed bilateral agreements with Australia and New Zealand for the exchange of information for tax purposes, marking further progress in international efforts to implement the principles of transparency and exchange of information for tax purposes developed by the OECD’s Global Forum on Taxation
Notwithstanding the above, the Netherlands Antilles (Curacao) is still attractive for foreign companies and wealthy individuals.
Karel Frielink
Curacao-based Attorney (lawyer) / Partner
