Sint Maarten Clarifies Tax Rules for Private Fund Foundations

The Sint Maarten Government May 10 clarified tax rules for private fund foundations (PFFs) that are independent legal entities that operate similar to trusts, including that: 1) PFFs are exempt from taxation if they don’t receive income from conducting business for profit; 2) PFFs must always file annual tax returns with supporting documentation; and 3) the tax authority determines the exempt status. [Sint Maarten, Government Portal, 05/10/19]

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