Software update: payroll calculations 2015 Curacao and Sint Maarten
Published by M. Verhage in Updates
Concerning St. Maarten, the new wage tax tables, fiscal allowances and SZV premiums 2015 are known and processed in Celery. Concerning Curacao and because of the periodic wage tax tables 2015 that are not available yet, Celery itself has created a calculation of the periodic wage tax.
This calculation is based on the Income Tax Table 2015 and since Celery does not consider rounding as was the case in the periodic wage tax tables, wage tax calculations by Celery are more accurate than in the past and will, in particular on a yearly basis result in (almost) no differences in regards to too much or too little deductions of wage tax.
Some other notable tax changes for Curacao from January 1, 2015 are that the ‘minimum wage exemption’ is not applicable anymore and that for workers with a ‘substantial interest’ (aanmerkelijk belang) a ‘usual wage scheme’ (gebruikelijk loon regeling) is applicable in 2015. Especially if you are a director and major shareholder (DGA), it is recommended that you ask your tax advisor regarding the last subject and to take the actions that are necessary if the situation applies to you.