Tuitt : no hike in turnover tax

POSTED: 09/13/12 1:05 PM

St. Maarten – Finance Minister Roland Tuitt made it clear yesterday that under his watch, the government does not intend to increase the turnover tax.  The minister was at the time responding to a press release issued by the St.Maarten Hospitality and Trade Association (SHTA) stating that several wholesalers were affected by a heavy tax burden and were uncertain about the new tax structure.

“That is far from the truth. We are busy developing a new tax structure, within that new tax structure we don’t have any intention of raising any taxes. The intention is to move from direct to indirect taxes,” Tuitt stated.

He further explained that another facet in the new tax structure may result in flat taxes.

On Tuesday, the SHTA said that “as the first wholesaler is (reportedly) preparing to shut its doors for good, potentially leaving several people without gainful employment at least in the near future, the sector is sounding the alarm bell for the umpteenth time.”

Tuitt said that if this is true, the government bears no responsibility for this.

“One of the wholesalers will be closing but it cannot be because of the intention of government that we are raising turnover tax.”

The minister also clarified that the temporary increase in turn over tax that was introduced close to 2 years ago from 3 to 5 percent can no longer be viewed as temporary.

 

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