PHILIPSBURG:---The Soualiga Employers Association (SEA) is calling upon the Government of Sint Maarten to show some more leniency towards the business community and primarily so to our local Small Medium Enterprise (SME) category of businesses. SEA believes that this leniency should include tax holiday/exemption for local businesses for a defined period of 6 months especially for our newly startups businesses, coupled with improved facilitation as it relates to immigration and labor processes for the business sector. These measures would inevitably serve as a stimulant towards increased economic activity.
SEA has taken note, that the current guidelines and requirements for businesses to obtain tax holidays do not cater to our SME sector and in particular our local small businesses. Some of the current requirements include having an investment of a minimum of Naf 250,000; and or must cater to the hospitality sector or promote visits to St. Maarten by foreign nationals with an investment minimum of Naf 1,000,000.
Given, the aforementioned, SEA is appealing to the authority and in particular, the Ministry of Finance to amend these stipulations so that our MSME sector, which makes up approximately 85 percent of our total business sector, can also have a fair chance of applying for some sort of relief as it relates to tax exemption. SEA's is of the view that a tax exemption for a minimum of 6 months at least, would go a very long way for our MSME sector and the economy on a whole, given their economic importance and the current economic trend we are faced with.
As an employer’s association representing a wide spectrum of our community, SEA join the call along with many other institutions that include the Chamber of Commerce and Industry that has been calling for not just the establishment of businesses but also measures that would certainly ensure their growth and development. This call is also on the behalf of the various Taxi Associations where measures should be put in place so that they can be formally recognized as a business so that certain facilities can be afforded to them.
With the requested measures, especially that of the tax exemption, SEA firmly believes this would create economic activity and have a positive effect, thereby creating a more conducive business environment for which businesses can now re-invest and stimulate employment.
