Introduction of royalty activities as non taxable income for the Exempt Company and a 100% exemption for dividends received and foreign branch profits per January 1, 2009.

On the verge of the New Year, the Netherlands Antilles adopted legislation leading to 0% taxation on royalties received as well as on dividend received.

Effective per January 1, 2009 (i.e. retro actively), royalties received by the so-called Exempt Company are regarded as qualifying income, causing the royalty income to be exempt from any taxation.

Furthermore, dividends received as well as profits derived with the exploitation of a foreign branch (permanent establishment) are exempt from any taxation.