Introduction of the dollar on Bonaire, Saint Eustace, Saba

The Dutch Lower House of Parliament has agreed to the introduction of the dollar on Bonaire, Saint Eustace and Saba (the BES Islands). This means that on 1 January 2011, the Antillean guilder will be replaced by the American dollar.

In the month of January, it will still be possible to pay with Antillean guilders in addition to the dollar on the BES Islands. Subsequently, there will be opportunities to exchange the guilders for dollars. However, it will no longer be possible to pay with guilders.

On 1 January 2011, all bank balances will be automatically converted into dollars. The conversion rate used will be the fixed exchange rate used between the Antillean guilder and the dollar since 1971.

On 10 October 2010, the BES Islands will become part of the Netherlands. They will have the status of public entities.

Tax system

The Lower House of Parliament has also agreed to the proposal to continue the existing Dutch-Antillean tax system for the period between 10 October 2010 and 1 January 2011. The intention is for this temporary transitional measure to be replaced by the new tax system for the BES Islands on 1 January 2011. It is expected that the legislative proposals necessary to that end (Tax Act BES, Customs and Excise Act BES and the Act implementing the Tax System BES) will be discussed by the Lower House of Parliament after the elections.