WILLEMSTAD – All non-profit organizations in Curaçao are being urgently requested to complete a questionnaire issued by the Tax Department as part of an international assessment by the Financial Action Task Force (FATF).
The Tax Department is seeking detailed information on the structure, activities and financial flows of non-profit organizations. Internationally, the sector is considered vulnerable to money laundering and the financing of terrorism, making enhanced oversight a key focus of the FATF evaluation. Curaçao must demonstrate that adequate monitoring and control mechanisms are in place.
Non-profit organizations have received a formal letter requesting that the questionnaire be completed in full. The collected data will be used for a national risk assessment, which forms part of Curaçao’s submission to the FATF. Authorities warn that failure to cooperate could weaken Curaçao’s position during the international review.
The FATF evaluates countries on their effectiveness in combating financial abuse. An unfavorable assessment could place Curaçao under increased international scrutiny, with potential consequences for cross-border financial transactions and the reputation of the island’s financial system.
The Tax Department has emphasized the importance of timely and accurate responses, noting that the cooperation of the non-profit sector is essential to safeguarding Curaçao’s standing in the global financial community.
