Purpose
Ensure tax filings and audited financial statements are prepared, approved, submitted and retained on time. This procedure implements the Tax Authorities (Belastingdienst Curaçao) reporting obligations (section 2.3), the Finance Department’s responsibilities (section 3.2), and the reporting calendar deadlines (section 5) of the approved Regulatory Reporting & Communication Manual.
Tax Authorities Profile
Belastingdienst Curaçao is responsible for taxation and enforcement of fiscal obligations.
Key Responsibilities for Bitkaya B.V.:
- Corporate Income Tax (CIT) compliance.
- Turnover Tax (if applicable).
- Wage tax and social security reporting for employees.
- Possible VAT/GST considerations depending on transaction types.
Reporting Obligations:
- Annual CIT filings (typically due within 5 months after financial year-end).
- Monthly/quarterly turnover tax filings.
- Monthly payroll/wage tax declarations.
Communication Protocol:
- All filings via the online tax portal.
- Prompt response to tax authority inquiries or audits.
- Maintain supporting documentation for at least 10 years.
Finance Department Responsibilities (Section 3.2)
The Finance Department ensures the company’s financial transparency and accuracy in relation to both domestic taxation and regulatory reporting requirements:
- Tax & Fiscal Compliance: Prepares and files all statutory tax declarations, including Corporate Income Tax (CIT), turnover tax, and wage tax obligations, in line with deadlines set by the Curaçao Tax Authorities.
- Financial Reporting: Compiles and maintains financial statements and management accounts, ensuring consistency with international accounting standards and local regulations.
- Audit Coordination: Acts as the primary contact for external auditors, ensuring they have access to accurate and complete financial records for annual audits and special reviews required by regulators.
- Regulatory Submissions: Ensures the timely delivery of financial statements and related reports to the CBCS and Tax Authorities, coordinating with the Compliance Officer when regulatory overlaps exist.
- Documentation: Keeps organized and retrievable financial records for the statutory period (minimum 5 years), enabling easy access in case of inspections or audits. Maintain certain key records longer (for example, financial statements, audited reports, governance documents, contract documents, source of funds documentation, compliance policies) beyond the 5 years, potentially up to 7-10 years, where there is risk, ongoing litigation, or requested by regulator or auditor.
Reporting Calendar Deadlines
| Authority | Report Type | Frequency | Responsible Party | Deadline |
|---|---|---|---|---|
| Tax Authorities | CIT Return | Annually | Finance Dept | 5 months after year-end |
| Tax Authorities | Turnover Tax | Monthly/Quarterly | Finance Dept | 15th of following month |
| Tax Authorities | Wage Tax | Monthly | Finance Dept | 15th of following month |
| CBCS | Audited Financials | Annually | Finance Dept | 5 months after year-end |
Steps
| # | Action | Details | Evidence |
|---|---|---|---|
| 1 | Maintain reporting calendar deadlines | Maintain CIT, turnover-tax, wage-tax and audited-financial deadlines in the reporting calendar, reflecting the deadlines above (CIT and audited financials due 5 months after year-end; turnover tax and wage tax due 15th of the following month). | Tax and financial reporting calendar |
| 2 | Reconcile source data | Reconcile source ledgers, accounts, tax calculations and financial statements, ensuring consistency with international accounting standards and local regulations. | Reconciliation notes and working papers |
| 3 | Obtain Finance review and auditor evidence | Obtain Finance review and external-auditor evidence where applicable — the Finance Department acts as the primary contact for external auditors, ensuring they have access to accurate and complete financial records for annual audits and special reviews. | Review sign-off and auditor evidence |
| 4 | Resolve material differences | Resolve material differences and document judgments. | Judgment documentation and resolution log |
| 5 | Obtain approval and submit | Obtain authorized approval and submit through the required portal or channel — all tax filings via the online tax portal. | Approval record and portal submission receipt |
| 6 | Retain records | Retain filing receipts, audited statements, supporting records and correspondence; maintain organized and retrievable financial records for the statutory period (minimum 5 years, with key records maintained up to 7-10 years where risk, litigation, or regulator/auditor requests require). Note: Tax authorities require supporting documentation for at least 10 years. | Retained filing package and retention evidence |
| 7 | Track inquiries and adjustments | Track inquiries, audit adjustments and corrective action, providing prompt response to tax authority inquiries or audits. | Inquiry and audit correspondence log |
Records
- Tax and financial reporting calendar
- Reconciliations and approvals
- Filing receipts, audited statements, and supporting records
- Audit coordination and inquiry correspondence
- Retention evidence (minimum 5 years, up to 7-10 years for key records, 10 years for tax documentation)
Relationships
- Policy: POL-REG-001 Regulatory Reporting and Communication Manual
- Process: PRC-RSA-001 Resilience Systems and Assurance
- Finance policy: POL-FIN-001 Finance and Tax Compliance Manual
- Finance process: PRC-RSA-001 Resilience Systems and Assurance
- Control: CTRL-REG-005 Ensure Tax and Audited Financial Reports Are Timely
History
- 2026-07-26: Created from sections 2.3, 3.2 and 5 of the approved REG Manual.
- 2026-07-28: Enriched with full Tax Authorities profile, Finance Department responsibilities, reporting calendar deadlines table, and 10-year tax documentation retention requirement from PDF sections 2.3, 3.2, and 5.