Curaçao Signs Protocol for Exchange of Tax Information

In 2017, Curaçao will join the automatic exchange of information to prevent tax evasion and fraud. Last October, Minister of Finance, José Jardim, signed a protocol at an international forum of the Organization for Economic Co-operation and Development (OECD) in Berlin, Germany. More than 50 countries gathered to learn what they can do about tax-related issues by 2017 or 2018. Curaçao grabbed this opportunity to make it clear to the international community that its jurisdiction serves an international financial services center that is reliable, modern and transparent. At that meeting, discussions were held on new standards to be used and how tax information could be exchanged effectively and efficiently. Only with a global approach it will be effective, according to participants at the international conference. Tax evasion adversely affects governments as well as communities, resulting in the lack of funding for the basics and simultaneously places an additional burden on honest taxpayers.