Government sends 449 million guilder budget to Cft -increase on transfer and diesel tax proposed-

POSTED: 02/7/13 12:56 PM

St. Maarten – Another draft of the 2013 budget has been submitted to the board on financial supervision (Cft) after being balanced on Tuesday. It stands at 449 million guilders and within the document, the government proposes to increase the transfer tax on real estate from 4 percent to 5 percent and implement a diesel tax.

“We came with two additional measures; one of them is an increase of taxes on diesel. St. Maarten has only concentrated on increasing taxes on gasoline; they never put any tax on diesel. The other item we propose is an increase of 1 percent on transfer tax,” Finance Minister Roland Tuitt said yesterday.

The government was asked to revise its first budget submission and cut at least 25 million guilders from its projected income.

Tuitt said that he was able to cut approximately 6 million guilders from the Ministry of Justice and was also able to negotiate an estimated 11 million guilders debt relief with the SZV.

“Some old debts that we had we were able to negotiate with the SZV to get some relief as far as those debts are concerned.  It is not going to impact them because if the fund has a deficit we are covering the deficit,” Tuitt added.

Up to yesterday, the Cft had still not responded to the submission but Tuitt hopes that it will be approved so that the budget can be sent to Parliament.

The minister indicated that it is also  still awaiting a list of procedures the Cft uses to assess the budget.

Did you like this? Share it:
Government sends 449 million guilder budget to Cft -increase on transfer and diesel tax proposed- by

Comments are closed.