RELATED CONSIDERATIONS
34. Incentives and Grants
The following types of companies may qualify for a special reduced tax rate (see item 1) and/or favorable tax treatment:
Manufacturing Companies.
q 2% tax rate for five or ten years, or up to the year 2000;
q Exemption from import duties for raw materials, semi-finished products, packing materials, and machinery related to the construction of a manufacturing facility;
q Exemption from land and/or occupancy tax for up to ten years, or up to the year 2000; minimum investment and/or number of jobs is required;
q Losses incurred during the first four years of operations may offset future income indefinitely.
Renovated Hotels.
q Exemption from import duties for up to two years on imported goods used to extend, improve, and/or renovate the building.Free-Zone Companies.
q 2% corporation tax;
q No import or export duties;
q Formerly, free-zone incentives were limited to nonmanufacturing activities, such as assembling, (re)packaging, storing, and the subsequent export. As of December 15, 1986, the incentives have been extended to make the area a full free processing zone and an international service center (e.g., repair and maintenance of machinery situated outside the Netherlands Antilles and other export services are now allowed).
Shipping and Aircraft Companies.
q 7.7% to 9.7% corporation tax (including 15% island surcharge);
q Investment allowance for two years of 8% of acquisition or improvement cost is tax deductible, subject to recapture if the vessel is disposed of within ten years of the investment date;
q Accelerated depreciation (see item 27);
q Certain reserves are tax deductible (see item 33);
q Six years loss carryforward (see item 29);
q Ships and aircraft should, in principle, be registered in the Netherlands Antilles; countries with comparable shipping or aviation legislation may also satisfy this requirement;
q The company should be an N.A. company resident in the Antilles;
q In addition to the existing tax regime, a tonnage taxation (applicable as from January 1, 1987) has been introduced. Ships registered in the Netherlands Antilles may opt for the above described profits taxation or for ANG 0.40 taxation per registered ton/GT with a minimum of US$ 560 per ship per year.Insurance Companies.
q 36.8% to 44.85% corporate tax (including 15% island surcharge);
q Companies may request to be taxed for five years on the basis of a fixed profit;
q Profit is fixed at, for example, 10% of the life insurance premiums received in the tax year;
q Captive insurance and reinsurance companies may request to be taxed at the 2.4% to 3% rates at a fixed amount of ANG 2,400 annually; these rates also apply to investment income; prior approval from the Antilles Central Bank is required to form a captive insurance company;
q Legislation has been enacted providing for supervision of insurance companies by the Central Bank;
q The Central Bank first year license/supervision fee amounts to ANG 6,000 and for each subsequent year to ANG 3,000.
New Hotels.
q Partial exemption from profit tax; a 2% tax rate for a period of five to eleven years;
q Exemption from import duties on materials and goods necessary for construction and initial equipment;
q Exemption from land and occupancy tax for a period of ten years;
q A minimum investment is required;
q Losses incurred during the first four years of operations may be offset against taxable income indefinitely.
Land Development Companies.
q Tax holiday;
q Exemption from import duties on materials and goods utilized in the development-construction activities;
q Exemption from tax on profits realized on the sale of the developed land;
q A minimum investment of ANG 1 million is required. Activities should be expected to expand the economic development of the Netherlands Antilles.
Investment Holding Companies.
q Tax rate of 2.4% to 3% on net investment income; under certain circumstances, a ruling can be obtained, which provides a lower effective tax rate;
q No tax on capital gains;
q &nb
[1] [2] 下一页
