PHILIPSBURG – The Audit Team St. Maarten (ATS), established by the Social and Health Insurances SZV since January 2016, has helped SZV to collect over NAf. 28 million extra in social premiums over the year 2016 for the different Social Security Funds managed by SZV.
The increase in premium collections for the Sickness and Accident Funds, for example, has been 21.1% over 2016 since ATS started its activities to increase compliance of all companies with employees, who by law are obliged to pay the legally indebted social premiums to the SZV. These high collection numbers are a direct result of the restructuring of the SZV, and of the close and structured collaboration between the employees of the SZV, ATS and SBAB.
The main objective of the ATS is to increase compliance in and promote the regular payment of the legally indebted social security premiums ensuring in this way that all companies pay their fair share in accordance with the Social Security Ordinances.
The goal set by the ATS for 2016 was not only to increase the collection of social premiums, but to heighten awareness in complying with all the stipulations of the Social Security Ordinances and to offer all companies support with administrative overviews of the different premium payments and with correct and complete registration of the Company. This support service of the ATS entails detailed reporting, and correct processing of the administrative mutations at SZV and the companies.
The collaboration between ATS and the companies has been very good so far. Many companies are now more up to date with their social laws administration and in complete compliance with their social premium payments.
ATS visited over 5,000 companies in 2016, and about 500 companies in the current records of the SZV still have company mutations to submit in order to be fully up to date in the administration of SZV.
ATS is calling on all companies to cooperate in providing up to date company mutations to SZV. This collaboration will ensure correct processing by all parties of the calculations and payment of social premiums, and will as such increase compliance.
Companies who would like to submit a company mutation, such as a change of address or their contact information, can do so by contacting SZV directly via email@example.com or by calling +1 (721) 546-6782.
In the past, audits were outsourced to the SBAB Audit Services of Curaçao. ATS was established by SZV because it became clear that outsourcing was no longer necessary as the auditing could be managed locally. ATS currently employs five St. Maarteners and is still building its team to reach the required minimum formation necessary to service SZV and all companies in St. Maarten. ATS will receive support from SBAB for training of its staff and for its operations. As ATS expands, more vacancies will be available for local employees willing to have an attractive career in the financial auditing sector.