SABA/ST. EUSTATIUS–Entrepreneurs and private persons in St. Eustatius and Saba who pay real estate tax (vastgoedbelasting) may qualify for an investment exemption, the Tax Department said.
For entrepreneurs and private individuals who invest in immovable properties and as a result thereof see the value of their property increase there is a possibility to receive exemption of the real estate tax where the increase in value is concerned.
Entrepreneurs and private persons who would like to benefit from this exemption should fill in a form to which documents of proof are attached.
Within two months of submitting the form applicants will receive a response concerning whether the exemption is granted. In case of a positive response tax payers will receive a decree in which the amount of the exemption is mentioned.
The request should be submitted before the end of the year, following the year in which the investment was made. As of January 1, 2019, applications for investment exemption can only be submitted for the year 2018. This means that for investments made in 2018 the applications may be submitted until December 31, 2019.
The Tax Department wants to actively stimulate the use of the investment exemption by offering a one-time opportunity to request this facility for the years 2013 until 2017 by December 31, 2018, at the latest.
Forms with an explanation may be found on website www.belastingdienst-cn.nl. Click on “Vastgoedbelasting” and go to “Investeringsvrijstelling.” Persons with further questions may contact the Tax Department at tel. 715-8585.