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Saint Martin, Curaçao Improving Tax Collections

by Mike Godfrey, Lowtax.net, Washington
31 May, 2016

Saint Martin's fiscal balance is expected to improve on the back of stronger tax collections (including casino tax), while Curaçao's authorities have made significant efforts to strengthen tax administration and improve tax compliance.

These are some of the conclusions of the International Monetary Fund (IMF) following its recent visit to the islands.

The IMF said that there is an urgent need for Sint Maarten to develop capacity in tax administration and to support the production of timely economic statistics, essential to public policy formulation. Over the medium term, policy should focus on tax reforms to widen the revenue base, continued efforts to contain expenditures, and a proactive approach to address the public sector pension shortfall, the Fund said.

The IMF recognized that the currency union of Curaçao and Sint Maarten has important strengths, but preserving these going forward will require surmounting some critical challenges.

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