Revocation license fee exemption payments Aruban florin

POSTED: 11/23/11 6:57 AM

WILLEMSTAD – The Finance Ministers of Aruba, Curacao and St. Maarten have agreed to drop Aruba’s exemption from the foreign exchange levy on January 1, 2012. Aruba and the Netherlands Antilles agreed to the exemption in 1986 when Aruba became an autonomous country in the Dutch Kingdom.
Removing the exemption means that people who exchange a foreign currency for guilders will have to pay a charge of 1 percent of the amount and those who exchange a foreign currency for florins will have to pay a charge of 1.3 percent. The change will only take effect transactions between the three Caribbean countries as the Dutch government, which now represents its public entities of Bonaire, St. Eustatius and Saba on fiscal matters, took the decision not to apply the license fee when the three islands adopted the United States dollar as their official currency.

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