PHILIPSBURG, Sint Maarten – Honourable Minister of Finance Hiro Shigemoto says the Council of Ministers has approved a change to the Turn over Tax (ToT) law – corrective law – on February 8, 2011.
The ToT corrective law will now have to go to the Council of Advice and then to Parliament. After the parliamentary stage and before it can be published, the Governor has to sign it, Minister of Finance Hiro Shigemoto pointed out.
"As was mentioned in my press release which was published on January 10, 2011, the interpretation of the Sint Maarten Hospitality and Trade Association (SHTA) was incorrect.
"This was also communicated to Mr. van Vliet through the Department of Fiscal Affairs via email. Furthermore it was stated that the Minister of Finance could make use of the hardheidsclausule anytime the law in question has effects which were not the intention of the law.
"Taxpayers can appeal their case when the law leads to consequences which were clearly not intended by the legislature.
"The brochure which was published by the Inspectorate of Taxes explains to the public at large what the ToT entails and what it deals with in the form of Frequently Asked Questions (FAQ’s) and does a good job at explaining those to the public.
"The SHTA is also aware of the possibility to put in writing exactly what they find confusing. Furthermore the Department of Fiscal Affairs is available to assist with any questions as it pertains to the drafting of the law. A question pertaining to the execution of the law has to be handled by the Inspectorate of Taxes and the Department of Control and Detection," Hon. Minister of Finance Hiro Shigemoto explained on Tuesday.