Flat tax or indirect taxation will only benefit the rich says Minister of Finance.
As for the flat tax and indirect taxes that some people think is better for St. Maarten the Minister said that is not beneficial for the masses of people living on St. Maarten. He said that such taxes will only benefit the rich. He made clear that these taxes would only be giving a tax break to the rich by means of reducing their taxes. As for the indirect tax, the Minister said again the rich will be benefitting because this tax will apply to items purchased.
The Minister said that just Tuesday the Council of Ministers approved a legislation that would improve compliance. The new legislation he aims at going forward and will bring the country up to par with technology since it would require stores to install cash registers that are connected to the system in order for the sales to be monitored.
The Minister of Finance also mentioned the meeting he had in Curacao where the financial statements of the Central Bank were ratified and St. Maarten will be getting NAF10M as its share of the profits.