Page 32 - DIARIO 21MAY15

PAGINA 32
Introduction CIT
Import and Excise duties
1 Main points
Customs legislation:
• Import duties eliminated
• Customs and Excise in
accordance with BES
• Excise duty on wine (see
presentation in October 2015).
Possible excise tax on soft
drinks, fruit drinks etc? Will be
developed by the committee.
• License plate tax processed in
gasoline excise tax: this will
apply from January 1, 2016 or
2017.
Belastingcommissie
Introduction CIT General expenditure tax Import and Excise duties Personal income and wage tax Other taxes
Personal income and wage tax
1 Main points
 Wage tax by final levy
 Automatic wage tax without
entrepreneurs order
 Transferring employer's share of
social insurance premiums to
employees
 General tax and work deduction
 Less deductions and tax free-
allowances
• No deduction for
personal/extraordinary
expenses
• No interest deduction, except
for mortgage interest
• No deduction for costs of
employment
Belastingcommissie
General expenditure tax
• No deduction for costs savings  Introduction as of January 1,
and investments
• Limitation deduction
company costs
• Three rates (low-mid-high /
20-30-40)
DIARIO DIAHUEBS 21 MEI 2015
Import and Excise duties Personal income and wage tax Other taxes
2 Implementation
 Introduction as of January 1,
2016
 Legislative Text including
explanation by the Customs by
the end of April 2015
 Implementation program
legislation (IT forms-Internal
and external information) by the
Customs and Taxation Project
with support BC.
 Start: Information and
implementation in June 2015
(when the legislation is
completed).
 Recommendation:
Implementation workgroup
setting.
Foto: www.aruba.com
16 maart 2015
11
empleado. Lo tin menos de- ary 2017. Belasting di trans-
ducion y taxfree allowance, ferencia lo drenta na vigor dia
mientras no tin deducion di 1 january 2017, belasting riba
gasto extra ordinario y person- number di auto lo wordo pro-
2 Implementation al, ni riba interes, solamente cesa den accijns riba gasoline
riba hypoteca y ningun dedu- y lo drenta na vigor dia 1 di
cion riba gasto di empleo. No January 2017, impuesto riba
2017 tin deducion di gasto y inver- erfenis lo keda aboli dia 1 di
sion y lo tin limitacion di de- January 2016.
 Legislative Text including ducion di gasto corporativo.
explanation by BC no later than 1 E legislacion lo pasa pa april E reforma fiscal aki tin como
April 2016. Assistance legislation 2016, mientras lo cuminsa consecuencia cu no tin necesi-
lawyer Aruba cu e implementacion na Mei dad di hopi personal cu ta haci
2016 y lo reduci e corporate cu algum funcionario di gobi-
 Implementation program income tax na 20%. erno lo bay cas cu un pakete
legislation (IT Forms, Internal drechi.
and external information) by - Otro belasting; grondbelast-
DIMP / Project Taxation ing, lo bay riba retribucion y
ta drenta na vigor dia 1 Janu-
 Start implementation process:
May 2016 (when the legislation
is completed).
 Recommendation: Setting
workgroup deployment Income
Tax and wage tax
(Implementation Plan).
 Also, reduction of corporate
income tax rate to 20 percent
16 maart 2015
13