Objective
Ensure tax filings and audited financial statements are reconciled, approved, timely and retained, in accordance with the Tax Authorities (Belastingdienst Curaçao) reporting obligations (section 2.3) and the Finance Department’s responsibilities (section 3.2).
Control Activity
Finance reconciles filings to controlled records and retains review, approval, submission and audit evidence. Specifically:
Filing deadline verification: The control verifies compliance with the reporting calendar deadlines: CIT returns annually (due within 5 months after financial year-end), turnover tax monthly/quarterly (due 15th of the following month), wage tax monthly (due 15th of the following month), and audited financials annually (due 5 months after year-end).
Portal submission verification: All tax filings must be submitted via the online tax portal. Prompt response to tax authority inquiries or audits must be evidenced.
Finance Department responsibility verification: Verify that the Finance Department has fulfilled its responsibilities: preparing and filing all statutory tax declarations (CIT, turnover tax, wage tax) in line with deadlines, compiling financial statements consistent with international accounting standards, coordinating with external auditors for access to accurate and complete financial records, and coordinating with the Compliance Officer when regulatory overlaps exist.
Retention verification: Financial records must be maintained for the statutory period (minimum 5 years), with key records (financial statements, audited reports, governance documents, contract documents, source of funds documentation, compliance policies) maintained beyond 5 years, potentially up to 7-10 years, where there is risk, ongoing litigation, or requested by regulator or auditor. Tax supporting documentation must be maintained for at least 10 years.
Detailed annual-account, CIT, TOT, payroll and social-security controls are implemented through the linked CTRL-FIN-* controls.
Evidence
- Expected evidence: Tax and financial reporting calendar
- Expected evidence: Reconciliations and approvals
- Expected evidence: Filing receipts and audited statements
- Evidence location: source evidence in SYS-ECM-002 Compliance Reporting and Evidence Repository; target Hermes assessment record in Odoo under ISS-HERMES-001.
- Retention: according to the applicable approved policy and Bitkaya record-retention requirements.
- Testing method: sample filings for reconciliation, approval, deadline and retention
- Testing frequency: quarterly and annual
Assurance
Runtime effectiveness results are maintained in Odoo and assessed through the Hermes workflow tracked in ISS-HERMES-001. This note defines design, ownership, evidence expectations and testing method; it does not contain a manually maintained operation, evidence or overall effectiveness rating.
- Design status: implemented
History
- 2026-07-26: Normalized evidence metadata and separated design status from runtime effectiveness.