Twenty requests for tax relief

POSTED: 05/18/12 1:31 PM

St. Maarten – The government has twenty requests for tax relief under consideration: three for a tax exemption, and seventeen for a tax holiday, Finance Minister Hiro Shigemoto said at a press conference on Wednesday. The requests for exemptions are from the Simpson Bay causeway (contractor Volker Stevin Caribbean), the American University of the Caribbean School of Medicine and the St. Maarten Medical Center.
There are also seventeen requests for a tax holiday, but the outgoing finance minister did not identify them. “All seventeen requests have not yet been provided with an advice from the ministry of Economic Affairs. Due to the restructuring of the economic policy on tax holidays, it is expected that finalization of these requests will take place once clarity is given on the level of contribution that each project provides to St. Maarten’s economic development,” Shigemoto said.

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