The Aruba government has issued a release announcing that planned fiscal reforms measures have been removed from the 2020 Budget due to the COVID-19 pandemic, which included measures of the second phase of Aruba's reforms plans. The plans include, among others, the introduction of business turnover tax (BBO) at a rate of 6% on imported goods, a reduction in the corporate tax rate, the abolishment of the Imputation Payment Company (IPC) regime, and new rules on deductions. The government subsequently announced the approval of the Budget, which allows the government to seek funds in the international market to help those...