WILLEMSTAD - The government of Curaçao plans to introduce a new, simplified sales tax system (OB) starting January 1, 2026. A legislative proposal is currently being developed to streamline and clarify the system.
According to the government, there are multiple reasons for the changes to the OB system, but these have not yet been disclosed.
The Council of Consultation has urged the government to clearly outline the budgetary impact of the simplified OB system in the forthcoming bill.
Projections indicate that OB revenues will continue to rise in 2025, driven by inflation and increasing prices of imported oil products and food. For 2024, the government expects OB revenues to reach 690.7 million guilders. This estimate is based on the first five months of 2024 and considers economic growth calculated by the International Monetary Fund (IMF).
The data suggests that Curaçao's economy will grow by 4.5% in 2024 and by 3.5% in 2025.