PHILIPSBURG--A proposal is currently on the table to abolish the five-per-cent turnover tax (TOT) exemption currently being enjoyed by casinos in the country.
Finance Minister Ardwell Irion provided the information on Thursday, while responding to a question from United St. Maarten Party (US Party) Member of Parliament (MP) Claudius “Toontje” Buncamper during the continuation of a meeting on tax reform for the country. Buncamper asked for clarity on what is meant by “inclusion casino tax in the TOT.”
Irion responded, saying “at this moment, casinos are not paying TOT on their turnover. They have a TOT exemption. It is proposed to abolish this exemption. As a result, casinos will pay TOT like other businesses do.”
