-
Business Consulting
Our team ensures rapid response times, a low partner-to-staff ratio and is committed to delivering consistently high quality. Our business consulting services include naming a few: Governance, Risk, and Compliance, Business Transformation, Data Analytics, Human Capital, Operations Improvement, Program Management, Strategy & Innovation, Technology-enabled services, etc.
-
Business Risk Services
We deliver practical, pragmatic, and tailored solutions that support you in growing and protecting the value of your businesses. Our business risk services include naming a few: Enterprise Risk Management, Internal Audit, Operational Audit, Compliance Framework Solutions, Regulatory Compliance, Finance Risk and Modeling, Special Attestation Services, and Technology Risk Services. Are you looking into certifying your organization for best-practice management systems? We also offer gap assessments, implementation plans and managed services for ISO9001, ISO27001/2, ISO22301, and ISO37000, amongst many others.
-
IT, Cyber, Information Security & Privacy Services
Our highly skilled and experienced professionals are prepared to help you navigate the complex and dynamic digital environment you operate in. Our Cyber & Information Security solutions include amongst others: IT Audit and IT Strategy, Cyber Security Audit and Assessments, Cyber Strategy Solutions, Vulnerability Assessment and Penetration Testing, and Information Security & Privacy Frameworks (best practice) solutions.
-
Corporate Finance
For the past years, our highly experienced consultants have been dedicated to delivering a comprehensive array of services including transactions, valuations, deal advisory, and restructuring.
-
Managed Services
With the launch of our brand-new operations center in Suriname, we offer managed services for (e.g.) risk and quality, regulatory compliance, cyber security, information security, privacy, business processes, financial Management and many more.
-
Financial Statement Audits
Our team of experienced auditors guarantee that the information presented in your financial statements is accurate and in accordance with prevailing accounting standards and company laws.
-
Financial Statement Reviews
Accuracy, compliance, and reliability. Our experienced auditors conduct a thorough examination, identifying errors and providing valuable recommendations to enhance reporting practices and internal controls.
-
Internal Audit Services
We analyze and pinpoint opportunities for enhancement, manage potential risks, and optimize operational efficiency, ensuring that you can confidently reach your business goals.
-
Data Assurance
Rely on our proficient team to conduct thorough evaluations, detect weaknesses, and establish resilient safeguards against data breaches, unauthorized access, and data manipulation. Our data assurance solutions are designed to protect your valuable information, ensuring its integrity, and fostering trust in your information systems.
-
Regulatory Compliance Services
Our Regulatory Compliance Services help you navigate complex regulatory landscapes and ensure adherence to applicable laws and regulations.
-
Compilation and preparation of financial statements
Our expert team delivers comprehensive reports that provide valuable insights for informed decision-making and regulatory compliance.
-
Bookkeeping and financial accounting
From managing financial records to preparing accurate reports, we ensure compliance, transparency, and sound financial management.
-
Payroll compliance and administration
At Grant Thornton, we meet the challenges of our clients. Our offering is tailored to meet all your payroll requirements through a single point of contact. Our outsourced payroll team becomes your dedicated payroll department, aiming to process your payroll in the most cost effective and compliant manner.
-
Business services and outsourcing
Our reliable and cost-effective outsourcing services help you streamline your business operations by taking care of your workload.
-
Tax Advice and Wealth Planning for high-net worth individuals
Our team of experienced tax advisors blend commercial experience and knowledge with tax expertise to advise on the full range of transactions including sales, mergers, restructurings, and wealth planning.
-
Tax Compliance
We prepare tax returns, for example for profit tax returns, personal income tax, wage tax and turnover tax/ sales tax. Our expert team handles all aspects of tax preparation and filing while keeping you informed of deadlines and minimizing the risk of penalties.
-
(International) tax planning and incorporation services
Experience the perfect combination of tax planning and incorporation services in one comprehensive package. Our team of experts strategically minimize your tax liabilities while ensuring compliance with regulations. Additionally, we provide guidance and support throughout the entire incorporation process, offering valuable insights on legal structures, registration, and tax implications.
-
Advice on estate and retirement planning
Secure your financial future with our dedicated estate and retirement tax planning service. Our experienced team specializes in developing tailored strategies to minimize tax liabilities, protect your assets, and optimize retirement income. Count on us to navigate intricate tax laws, ensuring peace of mind and financial security for your future.
-
Advice on investing on the islands
Embark on a journey towards financial growth with our comprehensive investment advice service. Our advisors know and remain up-to-date wit the market trends on the islands in the Dutch Caribbean region. Evaluate your risk tolerance and craft personalized investment strategies tailored to your goals.
Business Support Plan for St. Maarten – II
07 May 2020The requests for payroll support for the companies that qualified for the first tranche as defined in the SSRP have been filed by now. It is expected that USZV will start making payments as of 11 May 2020. The following types of businesses that did not qualify for the first tranche of support, are eligible for a maximum of 3 months support as of 1 May 2020:
|
Agriculture, forestry and fishing |
Repair of ships and floating structures |
|
Rental and leasing activities |
|
|
Services to buildings and landscape activities |
Repair of computers and personal and household goods |
|
Civil engineering |
Advertising and market research |
|
Construction of buildings |
Architectural and engineering activities; technical testing and analysis |
|
Specialized construction activities |
Legal and accounting activities |
|
Programming and broadcasting activities |
Tax and audit activities |
|
Publishing activities |
Other professional, scientific and technical activities |
|
Manufacture of beverages |
Veterinary activities |
|
Manufacture of furniture |
Real estate activities with own or leased property or on a fee or contract basis (excluding timeshare and condos) |
|
Manufacture of textiles |
Hardware stores, household goods |
|
Manufacture of wood products |
Wholesale and retail trade of motor vehicles and motorcycles |
|
Repair and installation of machinery and equipment |
Repair of motor vehicles and motorcycles |
The deadline for filing these requests has been set at 22 May 2020.
Where to apply?
As with the first tranche of support, this program is executed by USZV. Requests for support must be made online and can only be processed after creating an online employer account with USZV on the SZV employer’s portal:
https://employerportal.szv.sx/EmployerPortal/UserAccountRequest/UserAccount/
Who will qualify?
The conditions to qualify for this support must meet the following conditions:
- A company must have employees and these employees must be registered at SZV under the ZV and/or OV Fund. The company is the one that applies for the support.
- From the moment a company applies for the support, it is required to keep its personnel in service for the entire period of the support (3 months). Only layoffs based on temporary employment contracts (whereby this temporary contract will automatically have been terminated at a set date), are exempted.
- A company is required to prove, based on the declared revenue (the total of the taxed- and exempted revenue) as per the monthly TOT returns for the applicable months of 2019 and 2020 that their revenue has decreased by more than 20% because of the Covid-19 pandemic. Revenue of April 2019 will be compared to that of April 2020. This will be done subsequently for the next two months.
- If your company was not operational in 2019 then the revenue of March 2020 will be compared to the months of April, May and June 2020. For companies, that were not operational in 2019, additional information will be requested to prove the above.
The business must provide a bank account at a local bank, payments made by SZV will be in Guilders.
How much support will I get?
The level of support provided is the same as provided under the first tranche. The support has a maximum of 80% of the employee’s salary as registered at SZV (the official daily wage) with an individual minimum support of ANG 1,150 and a maximum of (80% of) ANG 5,651.36 (wage limit for Medical and Accident Insurance). Furthermore, the support is limited based on the actual loss of revenues experienced:
|
Level of Revenue Loss |
Level of Payroll Support |
|
More than 20% but less than 50% revenue loss |
60% payroll support |
|
More than 50% but less than 80% revenue loss |
70% payroll support |
|
More than 80% revenue loss |
80% payroll support |
The loss of revenue for determining the support will be established based on comparing the revenues of April 2020 with the same for the month of April 2019 as stated in the Turnover Tax Return for those months. The same will be done with the Turnover Tax returns of May 2020 with May 2019 to determine the revenue loss percentage for establishing the June support and so on.
The payroll support is based on the actual payroll of the month prior to the month for which the support will be paid. If salaries paid in April have been reduced as a result of the Covid-19 crisis, this lower amount will be the basis for calculating support.
Example
A company has 7 employees. Of these employees 1 earns ANG 1,300, 5 of these employees earn ANG 3,500 per month and 1 earns ANG 9,000. All employees are fulltime. The company has a proven revenue loss of 60%. The calculation of payroll support is as follows:
|
Employee |
|
|
ANG |
|
1 |
ANG 1,300 * 70% = ANG 910 |
|
1,150 |
|
2-6 |
ANG 3,500 * 70% * 5 |
|
12,250 |
|
7 |
ANG 5,651.36 (maximum) * 70% |
|
3,956 |
|
Total support |
|
|
17,356 |
The support provided in this example is approximately 62.4% total payroll.
In order to enable SZV to process all the information, companies must file their April tax and social security returns before 15 May 2020.
Companies will be required to sign a declaration before the payment of the support can be released. This will ensure payroll support received is based on accurate information and that the employees will receive their salaries as intended by the Support Plan. Non-compliance with the stipulations of the Support Plan might lead to sanctions against the employer which include repayment of (a part) of the government contribution regarding the Support Plan.
Review
The companies that received PSP or APSP will be subject to review. SZV, in cooperation with the Inspectorate of Taxes and the St. Maarten Audit Team will be conducting audits to determine whether the support provided was correctly claimed.