THE BOTTOM- Representatives from the Ministry of Finance, Jeroen Adler and Kim Boon, visited Saba on May 13th and 14th to present the draft tax plan for 2025.

Meetings were held with the Executive and Island Councils, Saba Business Association, Chamber of Commerce and community members were also invited to attend a town hall meeting on Monday evening.

Some points of change for the 2025 tax plan include the linking of a Tax-Free Allowance with Legal Minimum Wage, and a higher tax rate of 35.4% for people earning more than 50,000 dollars per year.

The representatives also acknowledged that Saba is an island economy with high importation fees and therefore encourage transparency and input from the community on the future taxation plans.

Finalization

The finalization of the tax plan will take place on Prinsjesdag (Budget Day) in the Netherlands, scheduled for Tuesday, September 17th, 2024.