WILLEMSTAD - It is now almost certain that a new memorandum of amendment will be issued in connection with the National Ordinance on the Standardization of Top Income (LNT) for Curaçao government-affiliated entities.
However, any amendment to this law will have to comply with and be based on two principles: in accordance with the decision of the Kingdom Council of Ministers (RMR) and in the (general) interest of Curaçao.
That is according to the Minister of Finance, Javier Silvania after the meeting he had with various directors of government companies. These directors previously expressed their dissatisfaction in a position paper with the standard amount calculated by law. 263,000 guilders per year (which should correspond to 130 percent of the Prime Minister's standard). They say they are not against a standard, but according to their calculations this should amount to more than double, namely 535,000 guilders per year.
“It has been agreed with employees of the Ministry of Finance that, together with actuary Keesen, they will advise the minister on three points on August 8: the components of the standard income; the term of the transitional arrangement; and the amount of the severance pay.”
Based on the advice, the Minister of Finance will request Legislation and Legal Affairs Department to draw up a memorandum of amendment. But now Silvania has already made it clear to the directors of the government companies that the amended LNT must at least meet the requirements set by the RMR and must also be in the interest of the Country of Curaçao.