PHILIPSBURG: The General Audit Chamber has submitted its report entitled “Mini Audit: Implementation of personalized license plates” to Parliament on Monday. The report highlights the possibilities of implementing an additional structural revenue stream via personalized license plates.
The report looks closely at Aruba as a benchmark island for personalized plates and investigates the structure in which they implement this. In 2020, Aruba generated revenue of over a half a million Aruban Florin (NAfl.) in personalized plates. The revenue generated from personalized plates accounted for two percent of the total motor vehicle tax revenue.
The report highlights certain challenges with Sint Maarten’s system in implementing personalized plates. The main challenge being that the current law does not support the issuance of personalized license plates and would have to be amended to facilitate this.
The Audit Chamber found that Aruba is able to produce personalized plates locally. This means that personalized license plates are produced in real time and immediately upon request, which eliminates any risks associated with the additional cost of producing plates in advance and timeliness.
The findings of the report highlight an avenue worth further exploring where government may benefit from a structural approach to increasing revenue during this time.