Aruba Parliament Approves First Phase of Fiscal Reform Plan Including Individual Income Tax and Ground Tax Changes

On 20 December 2018, Aruba’s parliament reportedly approved the legislation for the implementation of the first phase of Aruba’s fiscal reform plans. This includes a reduction in the number of individual income tax brackets from 14 to 5 as follows, considering a tax-free amount of AWG 27,751:

• up to AWG 27,751 – 0%
• over AWG 27,751 up to 61,338 – 14%
• over AWG 61,338 up to 91,120 - 25%
• over AWG 91,120 up to 169,534 – 42%
• over AWG 169,534 – 52%

The first phase also includes the introduction of…