Curaçao Government Report Suggests Refinery Restart Is Off the Table

Deloitte presented a session on Succession Planning in Willemstad, Curaçao, addressing the complex process of transferring family-owned businesses to the next generation. The presentation emphasized that handing over a family business involves far more than simply dividing shares among heirs. Key factors such as the wishes and ambitions of the children, tax implications, real estate holdings, land ownership, and the long-term future of the company all play critical roles in the transition. Without proper planning, family businesses risk conflict, financial loss, or even collapse during the transfer process. The event highlights a growing awareness in Curaçao's business community of the need for structured succession strategies to protect generational wealth and enterprise continuity.

A Curaçao court has ruled that property owners living abroad can be classified as taxable entrepreneurs under local law if they rent out their Curaçao properties as vacation rentals. The decision has significant implications for the growing short-term rental market on the island, where many properties listed on platforms such as Airbnb and Booking.com are owned by non-residents. Under the ruling, overseas owners who commercially rent their properties may be subject to turnover tax and other entrepreneurial obligations in Curaçao. The court's decision clarifies a previously grey area in the island's tax framework, bringing foreign-based landlords closer to the same regulatory footing as locally based rental operators. Authorities and tax advisors are expected to review existing rental arrangements in light of the judgment. The ruling could prompt a wave of compliance reviews and, in some cases, retroactive tax assessments for overseas property owners. For the Curaçao government, the decision represents a potential new revenue stream from the island's booming tourism accommodation sector.

The Curaçao Tax Authority is exploring the use of utility data from state-owned energy and water company Aqualectra to identify unregistered vacation rental properties on the island. By cross-referencing utility consumption patterns with known rental listings, authorities believe they can detect properties operating outside the formal tax system. The move comes as short-term rental platforms like Airbnb have expanded significantly across Curaçao, raising concerns about lost government revenue. Property owners who rent to tourists are required to collect and remit room tax and declare rental income, but compliance has been inconsistent. Using utility data as a tracking tool represents a shift toward data-driven tax enforcement on the island. If implemented, the approach could compel hundreds of informal vacation rental operators to register with tax authorities. The initiative reflects a broader effort by the Curaçao government to close tax gaps in the growing tourism-driven short-term rental sector.