Citing recent political events and inflationary pressures, Aruba’s prime minister announced on 19 August 2022 that the planned introduction of a VAT regime to replace the turnover tax regime will not take place on 1 January 2023. While no revised implementation date was announced, it is likely to be 1 January 2025 or 2026. Subsequently, on 30 September, the minister of finance and culture announced that the turnover tax rate will be increased as part of the 2023 tax plan.
Source BDO
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