On 20 December 2018, Aruba’s parliament reportedly approved the legislation for the implementation of the first phase of Aruba’s fiscal reform plans. This includes a reduction in the number of individual income tax brackets from 14 to 5 as follows, considering a tax-free amount of AWG 27,751: up to AWG 27,751 – 0% over AWG 27,751 up to 61,338 – 14% over AWG 61,338 up to 91,120 - 25% over AWG 91,120 up to 169,534 – 42% over AWG 169,534 – 52% The first phase also includes the introduction of a new rate structure for ground (property) tax that replaces...