Profit Tax

Legal entities and trusts are generally subject to profit tax in Sint Maarten and are required to pay profit tax on their profits. Special rules apply for businesses that form a tax group Natural persons (such as the self-employed) pay tax on their profits through their personal income tax returns. The profit tax applies to legal entities for example limited liability companies like Naamloze Vennootschap (N.V.) Besloten Vennootschap(B.V.) and Foundations and Associations.

Profit tax rates in 2023
The profit tax due depends on the taxable amount. The taxable amount is the taxable profit in a year reduced by deductible losses.

  •  The rate is 34,5%

Tax groups with subsidiary companies
In principle, every company or business is liable to declare and pay its own profit tax. However, if a parent company forms a tax group (also referred to as a fiscal unity) with one or more of its subsidiaries and meet the legal requirements, the Tax Administration will upon approval of a request treat the companies as a single taxpayer for profit tax purposes. The formation of a tax group is subject to certain conditions.

How often do you file profit tax returns?
You are legally required to file two profit tax declarations per year; one provisional which is due on March 31st and one final which is due on June 30th of the calendar year. The forms will be made available each year at the end of the calendar year, or if applicable to you, the financial year. The return form must be submitted at the counter of the Tax Administration, to the Inspector of Taxes. You can find several documents (per year) on this website via: Documents – Tax Administration SXM.

When will you receive a profit tax assessment?
You will receive an additional tax assessment:

  • If you have not submitted your declaration or have not submitted it on time.
  • If you have paid less than the amount stated in your final declaration.
  • If you have not paid or have paid late on a provisional or final declaration.
  • If it appears that you have paid a lower amount on your provisional or final declaration than stated in your declaration.
  • When it is determined through an audit that you did not declare and pay the profit tax due.