Tax Reform Phase 2
12 March 2020
On March 6 2020, the Government of Aruba sent the draft legislation for the tax reform phase 2 to the Aruba Parliament. According to the Government of Aruba, the second phase intends to simplify, tighten and redistribute the tax burden. The proposed measures, however, seem mainly aimed at increasing tax revenues on short term, and without sufficiently considering the long-term effects of these measures on the economy. This reform is intended to enter into effect as per April 1, 2020.
With our clients in mind we have prepared the attached SmartNews, highlighting the most significant changes and impact this will have on the economy and businesses.
Click here to read this SmartNews.