CBCS says wage-tax growth lagged St. Maarten economy after 2020
CBCS says wage-tax revenue grew more slowly than nominal GDP after 2020 and calls for stronger data and compliance analysis.
The Centrale Bank van Curaçao en St. Maarten (CBCS) says St. Maarten’s wage-tax revenue grew more slowly than nominal GDP during the economic recovery after 2020, according to its September 2026 Economic Bulletin. The People’s Tribune reported the bulletin said the trend requires further analysis of the wage-tax base and tax compliance.
The CBCS said changes in wage-tax revenue cannot automatically be treated as changes in compliance. It said collections can also be affected by wages, employment, economic activity, payment timing and the structure of the tax base. The bank recommended stronger data systems, digitalisation, risk-based audits and data-matching tools.
The People’s Tribune also reported that turnover-tax revenue, measured against GDP, recovered after the pandemic and has risen since 2022. The CBCS projects real GDP growth of 3.1% in 2026, following growth of 3.5% in 2025, with private demand expected to support the economy.
File photo: Dietmar Rabich / Wikimedia Commons · CC BY-SA 4.0 · cropped, SXM Today mark added
