Written by an accountant servicing small and medium size companies on Aruba


  1. Aruba has the highest social insurance premiums (AOV/AWW/AZV) in the region
  2. Increased administrative burden: Introduction of BBO
  3. Increased administrative burden: Introduction BAZV (must be calculated separately)
  4. Introduction of BBO during the year (not at the beginning)
  5. Introduction of BAVP
  6. Increase in BBO
  7. Abolition of the Investment Deduction and Early Depreciation
  8. Limitation of mortgage interest deduction
  9. Adjustment of SVB legislation: no more doctor’s letter needed: many more sickness reports
  10. Introduction of compulsory pension (of which insurance companies and government benefit) + 3% employers’ charges
  11. In the past married couples were only charged once for AOV/AWW and AZV. This was changed a couple of years ago: now they both have to pay. Since the employer is paying most of the premium, the SME had to pick up this bill.
  12. AOV limit increased to AWG 85,000
  13. AZV Premium WG part introduced
  14. AZV premium WG part increased
  15. Land tax increased (50%?)
  16. Increased minimum wage (yearly)
  17. Obligation to deposit financial statements at the Chamber of Commerce
  18. CBA permit necessary to bring in money
  19. No more possibility to transfer money abroad (since Covid)
  20. Pay foreign exchange commission to CBA for payments abroad, even if it has been imported
  21. Obligation to report foreign banks to CBA (very complicated)
  22. Obligation to report foreign current accounts to CBA (weekly !!!)
  23. Enter provisional tax assessments (during the year)
  24. 2014: payment of taxes together with filing.
  25. BBO also on insurance premiums
  26. Tax department has the right to investigate third parties. Still every year each company has to file the IB-50 forms. Lot of work and expenses.
  27. Change of WB declaration from very simple 4 page form into a book
  28. Excise duties increased enormously (wine and beer)
  29. BBO must be included in all price lists etc. 
  30. Hard to find employees. If a SME hires an illegal but pays taxes: still fined
  31. Very difficult to get work permits
  32. The Tax and Customs Administration does not deal with appeals (10’s of thousands appeals have not been handled)
  33. No special business counter at DIMP
  34. Difficult to obtain business licenses (although this got easier)
  35. Far too strict supervision by the CBA


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March 20, 2021
Rona Coster