On July 9, 2014, the Netherlands has reached an agreement with St Maarten and Curacao on a bilateral arrangement to replace the existing Tax Regulation to prevent double taxation and counteract tax evasion. Representatives of the Netherlands and St. Maarten signed a letter of intent, the Ministry of Finance published in a press note.
According to the ministry, “St. Maarten also expressed its intention in due course for automatic exchange of information both with the Netherlands and other countries in accordance to the Common Reporting Standard (CRS), a worldwide standard for automatic exchange of financial and bank data”.
The latest tax regulation will have the form of a Statute Law and will become effective on first January 2016. This statute law will be presented in the National Council of Ministers very soon.
