Aruba crisis levy per July 1, 2018
Published by M. Verhage in Legislation and Regulations
In the framework of the management of public finances, the government has announced a temporary crisis levy effective July 1, 2018.
In order to curb the rising national debt and guarantee sustainable and sound public finances, a number of temporary crisis measures will be taken. These crisis measures will have effect on the payroll and will be accompanied by compensation for the most vulnerable members of our community in the form of:
- Increase of the Small Income Allowance (in Dutch: Reparatietoeslag). This increase will be applicable on employees that earn AWG 2400 per month or less and
- Reduction of the AZV-premium for Pensioners. Pensioners that now pay 10.5% AZV-premium will pay 6.5% premium.
The crisis levy is temporary in nature. After this, the government will carry out a fiscal reform, simplifying the current (administrative) tax system, with the aim of strengthening the purchasing power of the citizens. For more information please visit the website of the goverment of Aruba.