St. Maarten

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Return to homepage  |  Last updated: 29 April, 2020

The request for support totals ANG 258.3M for the first three (3) months.

With the closure of its borders, the economic activity in Sint Maarten has drastically declined and is further projected to have continued adverse effects on the major economic pillar, tourism. The CBCS forecasts economic contraction of approximately 30 per cent of our GDP if borders remain closed for six (6) months.

The Government of St. Maarten has put together a Relief and Economic Stimulus Plan, in which the request for support totals ANG. 258.3 Million for the first 3 months.

Click here to see a comprehensive summary of jurisdictional tax measures and government reliefs in response to COVID-19.

• To support businesses that are facing revenue losses and to assist in the prevention of layoffs, government will provide eligible employers with payroll support. This initiative will ensure job retention and create a buffer for furthering economic impact. Government will pay up to 80% of the payroll of qualifying businesses with a minimum of ANG 1,150 for a full- time employee for a maximum period of three (3) months.
• The main condition is that qualifying companies/employers should keep their employees on their payroll to prevent mass layoffs. These companies will need to demonstrate that their revenue has decreased by more than 20%, because of the COVID-19 pandemic. Revenue of March 2019 will be compared to that of 2020 for the same period. Monthly Tax & Premium Declarations will be used to determine if the relevant threshold is met. For newly established companies, revenues of January, February and March 2020 will be compared as well as other information such as benchmarks in the relevant sectors.
• Income Support for Sole Proprietors, Vendor License Holders, Bus and Independent Taxi and Tour Drivers.
• Total cost of this program is estimated to be ANG 1.34 million per month based on the assumption that all listed sole proprietors who have permits for public vending and public transportation are paid a maximum of ANG 1,150 per month.
• The Social and Health Insurances (SZV) has been entrusted by the Government of Sint Maarten to execute the Covid-19 Stimulus Payroll Support Plan on behalf of Government.

• In addition to the payroll support for businesses, the Government of St. Maarten has requested the CBCS to assist with creating a soft loan program for a total amount of ANG 33M. This program is geared at providing additional support to small and medium-sized businesses. This will be an effective tool for helping viable businesses remain resilient during these very uncertain times.
• VSA has extensive experience with providing food vouchers after Hurricane Irma. In total, roughly 3,000 food vouchers were issued and approximately 1,700 households were assisted. These numbers include incidental requests for assistance during the emergency phase. Food vouchers are a form of emergency relief, which can be used for temporary relief in cases of immediate job loss. Food vouchers can also be used for in-kind relief in addition to income support for the medium term.

COVID-19 Unemployment Support

• The Unemployment Program will pay ANG. 1,150.00 to qualifying individuals for the months of April, May and June 2020.
• Sint Maarten Stimulus & Relief Plan