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Curacao Corporate Taxation Changes for 2015 and 2016

On 30 December 2014, Curacao's parliament adopted the Ordinance Tax Revisions 2015-2016. The main corporate tax related changes are summarized as follows.

Investment Allowance

The investment allowance of 8% of the acquisition cost assets (12% for buildings) is changed to 10%. Originally available in the year of investment and the following year, the allowance is now only available in the year of investment. The rules for investments made prior to 1 January 2015 continue to apply.

General Expense Deduction Limits

Certain deduction limits are changed, including:

  • Representation expenses such as receptions, entertainment, excursions and related travel expenses are no longer deductible
  • Expenses for business gifts, courses and seminars are fully deductible, while related travel expenses are 80% deductible
  • Expenses for meals and beverages are 80% deductible

Tax Exempt Status

Tax exempt status previously only available for private limited companies (BV) subject to certain conditions, is extended for public limited companies (NV).

Interest Deduction Limit

The limit on the deduction on interest expense for loans from a tax exempt company in the same group is extended to interest on loans from non-residents of the same group if the non-resident is not subject to any profit tax. The same 3:1 debt to equity ratio applies.

Profit Tax Rate Reduction

The profit tax rate is reduced to 25%. The change applies for tax periods beginning on or after 1 January 2015. The rate will be further reduced to 22% from 1 January 2016.


From 1 January 2016, accelerated depreciation will be discontinued. In addition, buildings will only be able to be depreciated to 50% of their value. There will be no claw-back for buildings already depreciated below 50%.

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