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Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
Indirect tax snapshot
Please click on each section to expand further:
Sales tax is the main type of indirect taxation in Curaçao.
It is a tax on consumption which is applied during the production and distribution process to most goods and services. It is also applied to import of goods. Although sales tax is ultimately borne by the consumer by being included in the price paid, the responsibility for charging, collecting and paying it to the tax authority rests with the business delivering the good(s) or providing the service(s).
A business registered for the tax will charge sales tax on its sales.
A transaction is within the scope of Curaçao sales tax if the following conditions are met:
- it is a delivery of goods or provision of services. Although the term ‘provision of services’ is not defined in the legislation, it has a broad interpretation.
- it takes place in Curaçao.
- it is made by a taxable person. A taxable person is a person or
entity who is an entrepreneur for sales tax purposes.
There are three rates of sales tax that are applied to goods and services in Curaçao: the standard rate of 6%, the special rate of 7% for insurances, short term rent to tourists, and the special rate of 9% for listed delivery and provision of goods respectively services. In addition, some goods and services are exempted from sales tax.
Imported goods are taxed with sales tax at a rate of 9%. In this regard, sales tax is levied on the value of the good at import.
A 'person' who supplies goods or services must register for sales tax if the person can be regarded as an entrepreneur for sales tax purposes. An entrepreneur is anyone who independently carries out a business or profession, as well as anyone who exploits an asset to generate income from it.
A 'person' includes any legal entity.
Other than being an entrepreneur for sales tax purposes, no registration limit applies for the sales tax.
No, for business to customer transactions the non-established business needs to register itself at the Tax Authorities.
For business to business transactions, sales tax is levied from the established business on Curaçao.
Yes, for business to customer transactions the non-established business needs to register itself at the Tax Authorities and pay sales tax.
Sales tax returns are in principle submitted on a monthly basis before the 15th of the following month. However, on request, returns may be submitted every three months if the taxed revenue does not exceed ANG 10.000 in three months. Furthermore, on request, a return may under certain conditions be submitted once a year if the taxed revenue does not exceed ANG 30.000.
A penalty may be imposed by the tax authority if sales tax returns are not submitted on time. Penalties may amount to a maximum of ANG 10.000. The amount of the penalty will be determined for each case separately.
Sales tax must be paid within one month after the sales tax assessment is received. For the first late payment, the tax authority will issue a notification to the taxpayer confirming that if no payment is received within 10 days, the owed sales tax can be claimed by court order.
Yes. A range of penalties can be imposed where businesses do not comply with the sales tax legislation.
Penalties can be applied for errors and omissions made on tax returns. Penalties can also be applied where the business has failed to maintain adequate records. More severe penalties can be applied when a business is in bad faith when submitting a tax return.
A sales tax invoice must in principle show:
• the invoice date
• an invoice number which is unique and sequential
• the seller's name, address, Crib-number and registration number obtained from the Chamber of Commerce
• the customer's name and address
• a description sufficient to identify the goods or services supplied to the customer
• the total delivered goods and the scope of the provided services
• the unit price (without sales tax)
• the time of supply (also known as tax point) if this is different from the invoice date
• the applicable sales tax rate, or if a sales tax exemption is applicable or sales tax is levied from the purchaser, a notification thereof
• the compensation, as well as any discounts that are not included in the unit price
• the total amount of sales tax charged (in ANG)
• the total amount to be paid by the purchaser
Under certain specific circumstances an exemption can be obtained for the issue of sales tax invoices.
For further information on indirect tax in Curacao please contact: