Published On: Thu, Aug 20th, 2015

VAT tax system in the making

sales-taxWILLEMSTAD - The government is working on a more neutral sales tax system (VAT-like). That can be read in a proposal on which no decision has been made. This way the government wants to eliminate the current sales tax (OB).

Given the ongoing discussion about the brackets in the sales tax, according to the government the time is ripe to begin to eliminate overlaps or to adjust the sales tax in such a way that it will prevent or limit accumulations. This is stated in the draft proposal that was leaked to the media. The rate of the OB will, according to various media, go from 6 to 11 percent if the system of brackets is eliminated. Accumulation means that at each stage of a product, from importer to end supplier, a separate sales tax is levied.

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