Published On: Tue, Sep 3rd, 2013

Rosaria: ’Curacao has to concentrate on DTA’s

Alex RosariaWILLEMSTAD – Curaçao must rapidly begin to focus on the establishment of a number of Double Taxation Agreements (DTA's) otherwise our international financial sector (IFS) will slide down to more irrelevance. This is according to PAIS leader Alex Rosaria. He hopes that the IFS sector is finally going to make positive decisions over the already negotiated DTA with Venezuela.

“Discord in the industry has also led to a delay with respect to this matter. I hope everyone will realize that not their own shop is important, but that the public interest must set the tone,” Rosaria indicated.

According to the PAIS leader it is important, in addition to Venezuela, to start, as soon as possible,  negotiations for a DTA with Canada. “Canada is one of our major trading partners. We must also pay attention to the growing investments of our northern neighbors who are especially visible in the banking world. Besides Canada Curaçao must make decisions regarding our tax with the Netherlands. In 2019 the old offshore scheme expires. DTA's with Venezuela, Canada, Netherlands and later Colombia will breathe new life into the IFS.”

Rosaria also thinks that the Government and Parliament should reject and fight hard against the qualification of tax haven. “Curaçao has a large number of exchange agreements signed in the past and is therefore no longer on the blacklist, Curaçao is clearly not a tax haven. But we must be on the alert for actions of G-8, G-20 and certain politicians who are trying to black paint our jurisdiction. It should be clear that we are not going to pollute our own nest. Also, we will not give away our position to other countries,” said Rosaria who considers submitting this issue as a motion in Parliament.

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