WILLEMSTAD - To tackle illegal vacation rentals, the government has announced an intensified control strategy. The tax authority has recently added two dedicated personnel who will focus solely on identifying vacation rentals that have not been reported to the tax authorities. These specially appointed enforcement officers will be remunerated by the tourism bureau CTB.
This new initiative is part of a broader plan by the tax authority to maximize revenue generated from vacation rentals. Individuals who own multiple properties and have failed to declare their rental income will be given a unique opportunity to rectify their situation. They will be provided with a chance to voluntarily disclose their rental activities without incurring any fines or penalties.
The increased scrutiny on illegal vacation rentals is a proactive step by the government to ensure compliance with tax regulations and create a level playing field in the hospitality industry. By addressing unreported rental income, the government aims to bolster its revenue streams and promote fairness among property owners.
This move aligns with the government's commitment to curbing tax evasion and promoting transparency in the tourism sector. It is expected to have a positive impact on the overall economy by ensuring that all vacation rentals contribute their fair share to the tax system.
The government urges individuals who own multiple properties engaged in vacation rentals to come forward and disclose their rental income promptly. By taking advantage of this opportunity, property owners can avoid potential penalties and contribute to the development and growth of the country.