Curaçao Finance Minister Javier Silvania provided an update (see Tuesday newspaper) on attempts to raise tax revenues from short-term vacation rentals including those offered via digital platforms like Airbnb. Government teamed up with representatives of the more traditional hospitality industry to identify such entrepreneurs not yet known to authorities and see how to best to approach the matter.
Two collectors were deployed specifically for this purpose to work on a list of possible cases provided as of July 1. After just three months, related income is reportedly up 20% from the average.
St. Maarten has been making similar efforts, Finance Minister Ardwell Irion recently stated. He even advised property owners engaged in such unreported activities online that they could expect a call or visit from officials in the near future.
It would be good to get an update about what steps were concretely taken locally and the results so far. After all, this is an area where much-needed money for the national treasury can be earned without further burdening a society still recovering from COVID-19 and its impact on the island’s local tourism economy.
To be sure, nobody is against people making an extra buck, but those who do must meet their fair share of fiscal responsibilities. Fact is that the so-called “home-sharing” phenomenon appears here to stay and is already significant in size, according to figures published not too long ago by the St. Maarten Hospitality and Trade Association (SHTA).
That does not have to be a big problem, as long as the sector is properly regulated, also to help ensure a level playing field when it comes to doing business in this country.
