Published On: Tue, Apr 25th, 2017

Braam: “Both maintenance expenses and fire insurance must be deductible from income tax”

braamWILLEMSTAD - According to the Member of Parliament for Korsou di Nos Tur (KdNT) Dr. Edward Braam, a system must be introduced immediately, whereby maintenance expenses and fire insurance can be deducted from income tax.

The government is in favor of boosting a property-owning democracy, but, “we cannot forget that this entails various expenses, such as constructing and/or maintaining these properties. If the government gives residents the opportunity to declare maintenance costs, this leads to a better financial position. This will create more jobs, boost the economy and effectively collect revenue for the government,” said Braam.

Braam plans to give the population more financial space by making fire insurance also deductible. Everyone must be responsible for closing fire insurance without being financially restricted. Fire insurance is important to all because with some negligence, a fire can destroy an entire household.

Under the guidance of his minister, the Member of Parliament emphasizes that current financial management has a beneficial influence on the population. These changes within the tax services are very important in order to save the homes of our population, said Braam in a press release.

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