A scene during the forum.
PHILIPSBURG–Representatives of the St. Maarten Chamber of Commerce and Industry (COCI) received information about the Tax Application of Meijburg and Co. Caribbean during a meeting with the company’s representatives Nicole Echobardo and Quincy Lont.
The meeting was held at the request of COCI. The Tax Application, which is in the Dutch language, allows business owners to quickly access various tax laws via their smart phone, it was stated in a press release on Tuesday.
A number of recent international tax developments that may impact the business industry of St. Maarten in the near future were also discussed during the meeting. One of the key developments that would be interesting to the business community is the Base Erosion and Profit Shifting (BEPS) action plan, an initiative of the Organisation for Economic Cooperation and Development (OECD) approved by the international forum G20.
The COCI board and Meijburg representatives also exchanged their concerns and aspirations regarding practical ways to keep the St. Maarten business community abreast of eventual changes to the country’s tax legislation. Meijburg and the COCI board agreed to monitor emerging trends related to international taxation, to facilitate a proactive approach to this matter where it concerns Sint Maarten.
“This is one way companies can easily access information … (on) tax laws and protect against tax-related challenges such as assessments and fines, but also legal steps to increase their bottom line,” COCI President Stanley Lint said about the app.
COCI Executive Director Anastacio Baker said COCI would have further discussions with Meijburg and Co Caribbean with respect to promoting the app.
“A translation of the content should be seriously explored and also factored in by other entities when it comes to the St. Maarten predominantly English-speaking community. Information provided in English would be more beneficial and useful for the business community who always request information in English, as well as the community overall. The app is beneficial where it also provides information about international tax treaties,” Baker said.
“The App provides an all-inclusive tax framework and is in line with transparency. We at COCI will provide an FAQ [frequently asked questions – Ed.] about taxes on the COCI Website with a link to the app.”
In addition to Lint and Baker, also representing COCI at the meeting were Vice President Benjamin Ortega, board members Edsel Gumbs and Curtis Thomas, and information technology (IT) officer Venecia Herbert.
Echobardo is a tax assistant at Meijburg and Co Caribbean and Lont is a senior tax manager and the practice leader of the St. Maarten office. Meijburg and Co Caribbean is a KPMG member firm with offices in Aruba, the Caribbean Netherlands, Curaçao, Rotterdam (Dutch Caribbean and Suriname desk) and St. Maarten.
Source: The Daily Herald https://www.thedailyherald.sx/islands/80543-coci-gets-info-on-tax-application