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Curacao updates Turnover Tax compliance and rates

  • GST
  • 04 May 2013 | Admin

Curacao updates Turnover Tax compliance and rates

The Curacao Parliament has enacted a number of changes to the Turnover Tax regime, including:

  • Turnover tax is now due on goods imported on a tax free basis, but subsequently sold for a taxable supply
  • The Turnover Tax rate will be 6%.  Insurance premiums and tourist services will be at 7%.  Certain luxury goods, entertainment and hospitality services will be at 9%.
  • Water and power are now subject to Turnover Tax
  • Services related to immovable property are also now subject to Turnover Tax

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Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce, and other financial management system providers, Avalara delivers cloud-based compliance solutions for various transaction taxes, including sales and use, VAT, excise, communications, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in the U.K., Belgium, Brazil, and India.