Aruba 2023 Tax Plan Includes Corporate and Individual Income Tax Rate Reductions, a Turnover Tax Rate Increase, and Other Reform Measures
Aruba's Minister of Finance and Culture, Xiomara Maduro, reportedly presented the government's 2023 tax plan during a press conference held on 30 September 2022, including certain previously announced reform measures with some revisions. The measure of the tax plan include:
- Reducing the corporate income tax rate from 25% to 22%;
- Reducing each individual income tax bracket rate by 2%, resulting…