Businesses in Suriname are subject to the following taxes:
Dividend tax (Dividendbelasting 1973)
Income tax (Inkomstenbelasting 1922)
Property tax (Vermogensbelasting 1944)
Law on rentable value tax (Wet Huurwaardebelasting 1995)
Law on wages tax (Wet Loonbelasting); Steps up to 38%
Law on turnover tax (Wet Omzetbelasting 1997); Services: 8%; Delivery/Transfer of goods by manufacturers: 10%
Import Tax Law (Wet Tarief van Invoerrechten 1996);
In accordance with Customs Tariff List
Registration/Stamp Duty Tax (Zegelwet); Up to 9% depending on transaction or service delivered
Self Assessment System
The government uses a Self Assessment (hardcopy) form submissions for Tax filing. This takes place each year in the first quarter. Individuals can receive free tax filling support at the Tax office.
Relief of tax losses
Tax losses incurred during the first three years of the company’s existence may be carried forward indefinitely. Losses incurred during subsequent years may be carried forward for a period of seven years.
It may be interesting to note that Suriname's Tax regulations originate from the Dutch system.
The different types of Taxes
The sales tax rates are as follows:
Taxed services : 8%
Taxed goods: 10%
Luxury goods: 25%
Import & Export of goods from and to Caricom 0%
The import of goods is subject to import duties in accordance with Customs Tariff Lists.
By decree of the Minister of Finance, investors in the production sector can request an exemption of the import duty to a maximum of 90% to the import of investment goods (heavy equipment).
Import & Export of goods from and to Caricom is subject to 0% tax.
All natural persons living in Suriname and the following entities established in Suriname ar esubject to pay income tax.
Public limited liability companies, limited partnerships in shares and other companies whose capital is wholly or partly divided into shares;
Cooperative associations and other cooperative-based associations;
Mutual insurance companies, as well as associations acting as insurers or credit institutions on a mutual basis;
Private legal entities and associations without legal personality, not mentioned above, if and insofar as they conduct a business, other than solely for the purpose of serving a public social interest; legal persons established by law if and insofar as they conduct a business.
Legal entities established by law if and insofar as they conduct a business.
The principal taxes on the income and wealth of individuals (natural persons) include the following: Personal income tax including Wage tax, Dividend tax, and Wealth tax.
An investor in Suriname can benefit from one of the following tax based incentives as included in the Investment Act:
• A nine year tax holiday that can be extended for an additional year for large investments of at least US$ 13
million: results in reduction of corporate income tax due, if any.
• Accelerated depreciation on assets: results in an extension of corporate income tax due, if any.
Tax consolidation: results in reduction of corporate income tax due, if any.
The main tax incentives available for investors in the mineral sector are:
• Import duties exemption: results in a reduction of investment costs.
• Accelerated depreciation.
• Reinvestment reserve.
Together with the granting of a tax incentive according to the Investment Act a license can also be granted by the authorized institution regarding:
• The repayment of the equity capital obtained from abroad to finance the investments as meant in this act.
• The payment of profit and/or dividend.
• The payment of interest and amortization for money borrowed from abroad to finance investments as meant
in this act.
• The payment of remunerations for management, technical assistance, know-how, patent and such.
Several private services exist to support with tax reporting.
See the 'Services Page' for a listing.