Tax
36 percent corporate tax and VAT introduced in 2023
The Belastingdienst administers taxation. Corporate income tax is 36 percent, among the higher rates in the region, and personal income tax is progressive. Suriname replaced its turnover tax with a value-added tax (BTW) at 10 percent from January 2023 as part of an IMF-supported reform programme.
Key rules
- Jurisdiction — National, administered by the Belastingdienst
- Deadline — Corporate return: within the statutory period after financial year end
- Deadline — BTW: monthly returns and payment
Governing law
- Wet Inkomstenbelasting 1922
- Wet Belasting over de Toegevoegde Waarde2022, in force 2023
- Wet Loonbelasting
In practice
The 2023 introduction of BTW replaced the cascading omzetbelasting and was a condition of the IMF Extended Fund Facility agreed after the 2020 debt crisis, so tax guidance predating 2023 will describe a system that no longer exists. Petroleum and mining are taxed substantially through their concession and production-sharing terms rather than the general corporate rate alone.