As of September 2020, holders of foreign assets and liabilities accounts have mandatory weekly and monthly reporting requirements to the Central Bank of Aruba (CBA). Let us assist you with reporting the foreign exchange commission for payments abroad to CBA. Introduction of mandatory weekly and monthly Foreign Assets and Liabilities Accounts Reports Following the adverse economic and financial [...]
Excerpts and reference to a recent Kock Advocaten newsletter in regards to a business lease tenant of a business that has been closed as a government requirement due to COVID-19 preventative measures. A frequently asked question is, "Does the (business) tenant have to keep paying the rent during this period?" "On the one hand, the [...]
On September 1st, the Aruba Tax Department will issue the personal tax declaration forms for the 2019 tax calendar year. Are you prepared? CATC-HCC is, join us to get ready. The 2019 personal income tax declaration forms are issued The date of issuance is September 1, 2020. The Aruba Tax Department informs that the 2019 [...]
A recent article in the Antilliaans Daglblad addressed the high mortgage interest typically found in Aruba. "Pearl white beaches, crystal clear sea, ice-cold beers, and high mortgage interest." The first three are common references of Aruba, but not the last one - high mortgage interest. "A higher interest rate on governments are the reasons for [...]
Has COVID-19 made your business struggle with cash flow? The Corporate finance and Audit Department can help you by offering assistance, including: Accurately manage the cash flow Request for a temporary loan Sale of the company The Corporate Finance & Audit Department can assist you in working on a plan to optimize your cash flow. [...]
Extended…. income tax rate reduction surrendering self-administered pension (e.g. director’s pension) By way of policy, the Minister of Finance, Economic Affairs, and Culture recently extended the surrendering of the self-administered pension, accrued in the company as well as externally, against the reduced income tax rate of 10%. The reduction is applicable as of 1 July 2020 up until 31 [...]
The deadline for the second quarter 2020 reporting foreign exchange to CBA is July 31st, 2020. Let us assist you with reporting the foreign exchange commission for payments abroad to CBA. For more information, send an email to CBAreports@catc-hcc.com or by calling (297) 527-5500. Obligation to pay foreign exchange commission for payments abroad Pursuant to article 2, paragraph 1, of the State Ordinance [...]
As with every company’s continued success comes the need to adapt and change. All of CATC-HCC's customers and business partners have endured the pandemic with required changes to continue to operate. Changes may include staff changes. Tax & Legal Department Steps Up Geert Weber separates from CATC-HCC. We want to wish Geert all the best in his future endeavors. Meanwhile, Mireille de Miranda and the [...]
HOW TO COPE WITH THE CHANGED BUSINESS ENVIRONMENT The rapid spread of the coronavirus through the world is clearly having an impact on the economy and general business environment in Aruba, Curacao, St. Maarten, and the BES-islands. For most businesses, the crisis has led, or will likely lead to at least a temporary decline in revenues – [...]
Struggling with the application for wage subsidy at SVb? Let our professionals do it for you! What can we do for you? We will calculate the May 2020 subsidy your business can expect We will calculate the remaining May 2020 payroll cost for your business We will calculate the remaining May 2020 payroll cost in [...]
