About the ministry
The Ministry of Finance’s tasks are:
- Taking care of the country’s finances and monetary affairs;
- Taking care of national and international tax matters; and
- Taking care of the monetary system, credit institutions and banking sector.
The general objectives of the Ministry of Finance are to:
- Promote an effective and balanced financial policy and financial management for Curaçao. This concerns the continuous care for and the development and evaluation of financial policy. This is to ensure proper management and control of the use of public funds.
- Ensure optimal and balanced fiscal policy and its effective implementation, as well as customs matters.
- Promote financial integrity by fighting, detecting and preventing money laundering and the financing of terrorism.
- Monitor the non-financial sector (including the exchange of information and maintaining contact with local and foreign regulators).
The Minister of Finance is the head of Ministry of Finance. The Ministry of Finance is composed of:
a core ministry consisting of:
- the Financial Policy and Budget Management Sector: responsible for:
– framework development with regard to budget policy,
– monitoring and providing advice on the implementation of the planning & control cycle and
– the consolidation and preparation of budgets, financial statements, annual reports and reports.
In addition to the above, this sector is responsible for:
– the preparation of an Administrative Organization (AO) procedure and guidelines for external control,
– conducting audits of all ministries and
– he management of the government’s funds. This includes managing investment, loans, payments, revenues, cash, balances and risks (interest rates and foreign exchange).
- the Fiscal Affairs Sector: responsible for the preparation of tax policy, tax legislation and tax treaties, the discussions on international tax arrangements and the implementation of these treaties.
- the Ministry of Finance’s Policy Organization: responsible for the development, evaluation and innovation of the financial economic policy cycle. In addition to this, it is also responsible for providing advice on national and international tax, political and financial/economic matters.
implementing organizations including:
- the Tax Inspectorate
- Tax Collection Department
In addition to the above, the following organizational units fall under the Ministry of Finance:
- the Financial Intelligence Unit Curaçao (MOT)
- the Government Accounting Firm Foundation (SOAB)
- the Tax Accounting Firm Foundation (SBAB)
- the National Lottery (Landsloterij)
- the Central Bank of Curaçao and St. Maarten
- the Corporate Governance Advisor
The Ministry of Finance was established by the National Ordinance on official administrative organizations A.B. 2010 no. 87.