- Small merchants under the KOR arrangement are not required to submit annual declarations for BBO/BAVP/BAZV anymore.
- Starting from January 1, 2023, small merchants with a turnover of Afl. 50,000 or less are exempt from declaring and paying BBO/BAVP/BAZV.
- These small merchants do not need to submit monthly declarations or annual declarations through the BO impuesto portal.
- If the turnover exceeds Afl. 50,000 during the year, the small merchant must start declaring and paying BBO/BAVP/BAZV monthly.
- They need to notify the Tax Department and fill out a digital form on the website if they exceed the turnover threshold.
- Small merchants are not registered for BBO/BAVP/BAZV unless there is a change in turnover.
- They are registered for income tax and must submit annual accounts when making the corresponding declaration.
- Small merchants can be registered for BBO/BAVP/BAZV if their turnover exceeds Afl. 50,000 or if they voluntarily request registration for BBO deduction at the border.
- Once registered, they must declare and pay monthly, even if the turnover falls below Afl. 50,000 in a year.
- For more information, contact the Tax Department at 522 7423 or 522 7424.
Source: impuesto.aw
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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