Latest updates

Staying off the blacklist: FATF criticism prompts government action plan
  • Corporate Tax
  • Aruba
  • January 15 2010

In 2009 it was announced that Aruba was no longer on the Organization for Economic Cooperation and Development's tax haven blacklist or its 'grey list' of jurisdictions with too few exchange of information treaties. However, the Financial Action Task Force's subsequent report on Aruba and its plans for a new blacklist have prompted the government to propose rigorous changes to the existing system.

Staying off the blacklist: FATF criticism prompts government action plan
  • Private Client & Offshore Services
  • Aruba
  • January 14 2010

In 2009 it was announced that Aruba was no longer on the Organization for Economic Cooperation and Development's tax haven blacklist or its 'grey list' of jurisdictions with too few exchange of information treaties. However, the Financial Action Task Force's subsequent report on Aruba and its plans for a new blacklist have prompted the government to propose rigorous changes to the existing system.

Parliament Approves New Form of Limited Liability Company
  • Company & Commercial
  • Aruba
  • April 06 2009

In 2006 the Aruban government presented its plan for a form of Aruban limited liability company, known as a vennootschap met beperkte aansprakelijkheid. Parliament has now finally approved legislation on the new corporate entity. Simple and flexible, it promises to be particularly useful for tax planning.

Parliament Approves New Form of Limited Liability Company
  • Private Client & Offshore Services
  • Aruba
  • April 02 2009

In September 2006 the Aruban government presented its plan for a form of Aruban limited liability company, known as a vennootschap met beperkte aansprakelijkheid. Parliament has now finally approved legislation on the new corporate entity. Simple and flexible, it promises to be particularly useful for tax planning.

Ordinance Introduces 'Know Your Customer' Principle for Trust Companies
  • Private Client & Offshore Services
  • Aruba
  • March 26 2009

A new ordinance on the supervision of trust companies has entered into force following the redrafting of provisions that would have brought almost every company in Aruba under the supervision of the Central Bank. The ordinance introduces the 'know your customer' principle to prevent Aruban entities from being abused for criminal purposes.

Amendments Hit Foreign Contractors' Tax Avoidance Measures
  • Corporate Tax
  • Aruba
  • September 05 2008

Aruba's new turnover tax was introduced with effect from January 2007 as part of a shift from direct to indirect taxation. However, certain accompanying amendments, including the introduction of a definition of a 'permanent establishment' for wage tax and profit tax purposes, followed much later and have greatly increased the administrative burden on entrepreneurs.

Amendments Hit Foreign Contractors' Tax Avoidance Measures
  • Private Client & Offshore Services
  • Aruba
  • September 04 2008

Aruba's new turnover tax was introduced with effect from January 2007 as part of a shift from direct to indirect taxation. However, certain accompanying amendments, including the introduction of a definition of a 'permanent establishment' for wage tax and profit tax purposes, followed much later and have greatly increased the administrative burden on entrepreneurs.

New Ordinance Extends Contractors' Tax Liability
  • Corporate Tax
  • Aruba
  • January 18 2008

Proposed legislation on tax and social security liability creates additional liability for contractors and subcontractors - a contractor may be liable not only for its own wage tax and social security premiums, but also for those of its subcontractors and all of the subcontractors in the same chain. The legislation will also establish liability where temporary employees are hired from an agency.

New Ordinance Extends Contractors' Tax Liability
  • Private Client & Offshore Services
  • Aruba
  • January 17 2008

Proposed legislation on tax and social security liability creates additional liability for contractors and subcontractors - a contractor may be liable not only for its own wage tax and social security premiums, but also for those of its subcontractors and all of the subcontractors in the same chain. The legislation will also establish liability where temporary employees are hired from an agency.

New Form of Limited Liability Company Will Boost Investment
  • Company & Commercial
  • Aruba
  • September 03 2007

A new form of limited liability company, designed to be simple, multi-purpose and suitable for tax planning, is expected to be introduced at the beginning of 2008. The new form facilitates company restructuring and is designed to improve the investment climate for local and international investors.

New Form of Limited Liability Company Will Boost Investment
  • Private Client & Offshore Services
  • Aruba
  • August 30 2007

A new form of limited liability company, designed to be simple, multi-purpose and suitable for tax planning, is expected to be introduced at the beginning of 2008. The new form facilitates company restructuring and is designed to improve the investment climate for local and international investors.

Government Introduces New Turnover Tax
  • Private Client & Offshore Services
  • Aruba
  • February 01 2007

The Aruban government has introduced a new turnover tax and amended other tax ordinances relating to, among other things, cuts in corporate and personal income tax, profit tax and import duties. The amendments mark a shift from direct to indirect taxation and will have a major impact on the way Aruban entrepreneurs do business.

Tax Reform: New Rules for Aruba Exempt Companies
  • Private Client & Offshore Services
  • Aruba
  • August 03 2006

Changes to Aruban tax rules have further restricted the limitation of deduction of interest and other payments. Aruba exempt companies (AECs) engaged in certain activities enjoy an exemption from Aruban profit tax and dividend withholding tax. Existing AECs and offshore regimes, as well as newly incorporated AECs and Aruba public limited liability companies, may also opt for fiscal transparency.

Ordinance Brings Tax Regime into Line With EU Savings Tax Directive
  • Private Client & Offshore Services
  • Aruba
  • September 22 2005

As an associated territory of an EU member state, Aruba has passed new legislation equivalent to the EU Savings Tax Directive. The amendment to Aruba's General Tax Ordinance modifies the taxation of savings income in the form of interest payments. Additional changes to the tax arrangements with the Netherlands and the Netherlands Antilles will facilitate the automatic exchange of information.

Tax Development Update
  • Private Client & Offshore Services
  • Aruba
  • May 05 2005

Aruban tax law is currently being overhauled. Amendments to the legislation on Aruba exempt companies and the introduction of so-called 'check the box' rules for fiscal transparency are imminent. In addition, technical amendments to the country's free zone legislation will take effect on January 1 2006.

Aruba-US Tax Information Exchange Agreement in Force
  • Private Client & Offshore Services
  • Aruba
  • December 09 2004

The new US-Aruba Tax Information Exchange Agreement aims to facilitate the exchange of information with respect to taxes, enable cooperation in the prevention of financial crimes and combat terrorism through the sharing of information. This update outlines the content of the agreement and some general aspects of Aruban domestic legislation on the exchange of information.

US-Aruba Tax Information Exchange Agreement Now in Effect
  • Private Client & Offshore Services
  • Aruba
  • September 30 2004

The United States and Aruba have exchanged diplomatic notes bringing into force the tax information exchange agreement signed in 2003. Aruba will now be considered part of the 'North America area' for the purposes of determining whether US taxpayers may deduct expenses incurred in attending conventions, business meetings and seminars in Aruba.

Proposed Legislation on Aruba Exempt Company
  • Private Client & Offshore Services
  • Aruba
  • July 29 2004

The Office of the High Commissioner of Aruba recently gave a presentation to the members of the Aruba Financial Centre Association and the Aruba Association of Tax Consultants on proposed amendments to legislation concerning the Aruba exempt company and the proposed introduction of a new Aruba legal entity.

Taxation of Expense Reimbursements
  • Private Client & Offshore Services
  • Aruba
  • February 12 2004

The Fringe Benefits Regulation, which sets guidelines for the taxation of monetary benefits and benefits in kind earned by employees, was recently amended. The revised regulation explains the allowances available to employees located from abroad and those available to all employees working in Aruba.

Changes to the Foreign Exchange Tax Ordinance
  • Private Client & Offshore Services
  • Aruba
  • October 16 2003

The government of Aruba has adopted a bill containing an amendment to the Foreign Exchange Tax Ordinance. Among other things, the bill entitles the Central Bank of Aruba to levy foreign exchange tax in case of an incorrect calculation of the foreign exchange tax by a foreign exchange bank, exchange office or other resident.

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