WILLEMSTAD - The Tax and Customs Administration of Curaçao has released the revenue figures for May, revealing a significant surplus compared to the original budget. Total tax and premium revenues show an excess of nearly 31 million guilders when compared to the 2023 budget.
Tax revenue surpassed expectations by more than twelve million, while income from social security contributions exceeded the budget by over fourteen million guilders.
As a result, the previous backlog of nearly five million guilders in tax revenue has transformed into a surplus of over seven million guilders, according to the Ministry of Finance. Furthermore, premium income up to and including May is over 23 million guilders higher than planned.
The majority of revenue still stems from sales tax, generating a total of 241 million guilders up to and including May, representing an increase of over five percent compared to the same period last year. Of this amount, 59 million guilders were collected by customs upon import, indicating an almost six percent increase compared to last year.
Increase
Additionally, the ministry notes a slight increase of just over two percent in wage tax compared to last year. However, property tax revenues have declined from the previous year. Nevertheless, the Tax and Customs Administration has recently started imposing the OZB 2023 assessments, which is expected to lead to an increase in property tax revenues from June onwards.