Minister of Finance Marinka Gumbs Introduces Dividend Tax to Raise Millions for Country Sint Maarten
Wednesday, June 11, 2025
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Minister of Finance Marinka Gumbs has officially announced the introduction of a 10% dividend withholding tax, a pivotal move designed to strengthen Sint Maarten’s fiscal foundation. https://sxmgovernment.com/christophe-emmanuel-broke-joke-angry-at-st-maarten-s/
During the ongoing budget debate, she confirmed that the government signed the national decree enacting this tax on December 18, 2024.
Although the law awaits formal publication and consolidation, the framework stands ready for activation. https://stmaartennews.ai/christophe-emmanuels-broke-meltdown-tour-continues-masterclass-in-political-self-destruction-sxm-st-maarten/
Once enforced, the tax will require companies to withhold 10% on all dividend distributions. Based on similar policies in Bonaire—which generate about USD 7 million annually—
Sint Maarten projects this new measure could raise at least XCG 10 million each year. While the 2025 national budget does not yet reflect this anticipated revenue, the Ministry of Finance has already initiated full-scale preparations.
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“We are preparing all systems—from IT upgrades to public education campaigns—to ensure we can implement this measure efficiently and responsibly,” stated Minister Gumbs.
Notably, this tax existed under the former Netherlands Antilles structure but was never applied in Sint Maarten. Therefore, it did not require parliamentary approval and has already transitioned to Country status via national decree.
Unlike the Tourist Tax, which expanded on an existing policy, the Dividend Tax represents an entirely new initiative introduced during Minister Gumbs’ tenure.
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As a result, it marks a fresh chapter in Sint Maarten’s tax policy evolution. The Ministry targets January 1, 2026, as the enforcement date, aligning with its inclusion in the 2026 national budget.
Moreover, the Ministry promises a phased rollout, ensuring businesses and taxpayers have sufficient time and clarity to adapt.
“We remain committed to reforming our tax system in a structured, fair, and transparent manner,” Minister Gumbs asserted. “This is one of several strategic steps we are taking to build a resilient economy.”
She also stressed, “Even if a measure doesn’t appear in the current budget, that doesn’t mean we’re not actively working on it. Our obligation is to include only feasible, executable revenue items in the official financial plan.”
The government will continue to provide updates as the implementation process advances.