Netherlands Antilles: Taxes and Costs
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Netherlands Antilles rental income tax is moderate
Income Tax
Nonresidents earning rental income are taxed at progressive rates. As of 1 January 2001, the taxable income is 65% of the gross income. Maintenance expenses and other income-generating expenses are not deductible because these expenses are accounted for in the standard deduction of 35% of the gross income. Interest and expenses for the acquisition and improvement of the property are deductible. The tax is levied at the following rates:
INCOME TAX |
|
| TAXABLE INCOME, ANG (US$) | MARGINAL TAX RATE |
| 23,950 - 25,100 (US$14,101) | 11%" |
| 25,100 - 36,110 (US$20,287) | 16% on band over US$14,101 |
| 36,110 - 47,740 (US$26,820) | 23% on band over US$20,287 |
| 47,740 - 63,360 (US$35,595) | 28% on band over US$26,820 |
| 63,360 - 106,920 (US$60,067) | 33% on band over US$35,595 |
| Over 106,920 (US$60,067) | 60% |
| Source: Global Property Guide | |
Surtax is further applied to the income tax payable: 30% in Curacao and Sint Maarten, and 25% in the other islands.
Married couples are usually taxed separately. However, the individual earning the highest personal income among the two is the one liable to pay tax on the income derived from capital.
Ground Tax
There are no property taxes in Saba, St. Eustatius, and Sint Maarten. Bonaire and Curacao charge ground taxes annually on the value of developed property at a rate of 0.6%. In addition to that, a 15% municipal surcharge is levied on the amount payable in Curacao.
Capital gains from the sale of real property are not taxable in the Netherlands Antilles.
Netherlands Antilles - more data and information
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Your Comments
posted by Arne Kattouw | 2008-05-08
Tax advisor, Curaçao
Several years ago, the ground tax in Curaçao and Bonaire was reduced from 0.6% to 0.3%.
posted by our Editor: Matthew Pollock | 2008-05-08
Thank you