Sound Financial Management

“Our nation is at a crossroad facing financial challenges of reduced income, low tax compliance rate, and increased expenses. Nonetheless our government is steadfast and dedicated to making the hard and sometimes unpopular decisions to move the country forward. We are committed to stabilizing and strengthening the financial status of Sint Maarten.

Government will invest in a state-of-the-art tax office to be able to provide better services, including online services. At the same time, we must foster a culture of tax compliance. Through tax reforms government will simplify the tax system. These initiatives will make the tax system user-friendly and increase the overall compliance thereby resulting in more income.

Sint Maarten will move to more indirect taxes. In addition, revenue increasing measures will be adopted taking into consideration that additional financial burdening of the population is not desirable. The two most important tracks for increasing government revenues without increasing tax rates are enhanced compliance and the elimination of backlogs in levying and collection.

Other important initiatives will be focused on restoring the confidence in our economy. The goal is to promote economic growth and minimize current seasonal peaks. A stable economy will ultimately also contribute to consistent streams of income for government services. The Central Bank plays a major role in realizing financial stability, we will towards achieving a full-fledged branch on Sint Maarten dedicated to our country's financial and monetary management.”

Projects


Improve tax office, fiscal policy and compliance

Initiative Ministry
  • Invest in the Tax Office to achieve more efficiency
Finance
  • Improve compliance
Finance
  • Review fiscal policy
Finance

Secure a balanced budget and responsible spending

Initiative Ministry
  • Cultivate a disciplined financial management culture within government
Finance
  • Continue to seek efficiency in government and strengthen enforcement of policies
GA, Finance
  • Implement income generating measures
Finance
  • Introduce, review and enforce the collection of fees and debts
Finance
  • Seek alternative ways within Justice to contribute to the budget
Justice
  • Ensure effective and efficient use of the education budget
ECYS

Optimize the monetary system

Initiative Ministry
  • Improve the functioning of the local branch of the Central Bank of Cura?ao and Sint Maarten
Finance
  • Evaluate and finalize position on dollarization
Finance