Dividend Withholding Tax Not a Burden on St. Maarten Taxpayers, Says Finance Minister
Minister of Finance Marinka Gumbs has firmly stated that the dividend withholding tax will not burden the average St. Maarten taxpayer. In a clear and direct message to the public,
she emphasized that this measure, far from being a surprise or an added financial weight, is part of a broader fiscal reform designed to modernize the country’s tax system and promote fairness.
https://sxmgovernment.com/christophe-emmanuel-broke-joke-angry-at-st-maarten-s/
Speaking to The Daily Herald, the Minister addressed recent criticisms and clarified that consultations surrounding the implementation of this tax began as early as May 2022,
well before her term began. She stressed that the local business community has remained fully informed throughout the process.
Dividend Withholding Tax Not a Burden on St. Maarten Taxpayers, Says Finance Minister
“This is not a new tax,” she said. “It has been on the books. We are now implementing it strategically to broaden our tax base.”
Minister Gumbs explained that the objective is to make room for future tax reductions, particularly in profit and wage tax.
These reforms will ultimately provide relief to everyday citizens.
Dividend Withholding Tax Not a Burden on St. Maarten Taxpayers, Says Finance Minister
She asserted, “If we want to improve education, healthcare, infrastructure, and mental health services, we must invest.
That investment requires a stronger, fairer revenue structure.”
The dividend withholding tax, according to the Minister, will primarily affect foreign investors and shareholders—those who benefit from the island’s economic activities but have not contributed proportionally.
Dividend Withholding Tax Not a Burden on St. Maarten Taxpayers, Says Finance Minister
“The people of St. Maarten should not carry the financial burden alone,” she declared. “It is only just that those profiting from our economy contribute to its sustainability.”
Contrary to misinformation, she pointed out that domestic shareholders can fully credit any dividend withholding tax against their income or profit tax.
https://sxmnews.ai/from-bid-rigging-to-land-stealing-story-of-christopher-emmanuels-crash-out/
Therefore, there is no increase in total tax liability for local businesses. “This is not a tax hike. It is simply a change in the timing of when the tax is paid.”
Minister Gumbs also dismissed claims that the tax would harm the economy as misleading.
Dividend Withholding Tax Not a Burden on St. Maarten Taxpayers, Says Finance Minister
She reiterated that this initiative aligns with tax practices in other regional jurisdictions such as Aruba, Barbados, Jamaica, and the BES islands.
In closing, she called for constructive dialogue and reaffirmed her Ministry’s openness to engaging with stakeholders. With implementation planned for January 1, 2026, and its inclusion in the 2026 national budget, the measure is expected to generate millions annually, reinforcing national resilience.