Today, State Secretary Van Rij (Finance) has confirmed that the tax-free allowance in the Caribbean Netherlands will be increased by more than 5,000 dollars to 17,352 dollars as of January 1st. Minister for Poverty Policy Schouten had already announced this during the discussion of the SZW budget last month.
“With the increase of the tax-free allowance by more than 40%, we help people with their income and in their livelihood. Moreover, we also provide clarity by aligning the tax-free allowance with the highest minimum wage in the Caribbean Netherlands. As a cabinet, we have seen in various places that attention has recently been drawn to this. We understand that too. I am pleased that we can now help people concretely and offer clarity for everyone”.
No tax has to be paid on income up to 17,352 USD. Income above the amount of 17,352 USD is subject to 30.4% tax and income above the amount of 281,921, 35.4%.