Civil servants and teachers will get cost of living payment

POSTED: 06/8/12 11:53 AM

St. Maarten – Finance Minister Roland Tuitt announced on Wednesday that the government will pay out the 2010 Cost of Living Adjustment (Cola). The 17 million guilder expense is not part of the 2012 budget that was approved earlier this year, but the government intends to make the payment, and then deal with the administrative issues by including it in a budget amendment that will be submitted to parliament within short.
“Even though an agreement was made between government and the unions, you still have to do the necessary paper work to realize this payment. Presently, we are in the process of reviewing the legal documents that have to be prepared to make this payment have a basis to be paid out. To speed up this process, most probably we will pay it out as a voorschot (a prepayment) and then the legal ramifications will be done, so that it can be booked properly in the government’s administration,” Tuitt said.
“We will also be looking at the tax consequences of paying out this item and how is the best way to pay it out so that the civil servants won’t be taxed excessively,” the minister also said.
These decisions will be communicated to the unions representing civil servants and teachers during a forthcoming meeting.

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