Published On: Fri, Dec 28th, 2012

SBAB helps with tax administration

WILLEMSTAD  - The Government Accountant’s Foundation (SBAB) broadens its services with the introduction of the project Guia den i Atministrashon Impuesto Temporal (GUAIT) (Guide in Tax Administration).

This project aims to assist entrepreneurs in maintaining a sound financial administration. Also, this project is intended for entrepreneurs who are in a poorer financial position. They can be helped by SBAB with their administration and fiscal affairs.

SBAB’s mission is to implement tax laws and regulations in an efficient, effective and in a costumer oriented way. The work of SBAB is focused on improving tax compliance in Curacao and increasing tax revenues.

In order to better tax collection and positively influence the behavior of companies for the payment of their tax, SBAB started with a project in the fourth quarter of 2010 "Starting Entrepreneurs”, or the “Starter Project”.

The SBAB assists and support entrepreneurs with little or no experience in setting their business. SBAB: “During the execution of audit and work on the Starter Project has shown that even with existing companies there is a great need for assistance in the context of financial and tax matters.”

“These entrepreneurs are usually unable to approach an administrator, accountant or consultant in relation with, inter alia, increased backlog in unpaid commitments or high taxes.” For this reason SBAB wants now to go a step further by expanding the Starter Project in a project entitled GUAIT. This project is now, besides guiding entrepreneurs, also assisting entrepreneurs those whose companies are in a bad financial situation.

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