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Suriname - Indirect Tax Guide

Special Indirect tax rules

Explore the requirements and rules that apply to Indirect Taxes in Suriname.

Explore the requirements and rules that apply to Indirect Taxes in Suriname.

Green bird sitting on tree branch, Suriname

General

Types of indirect taxes (VAT/GST and other indirect taxes).

Turnover tax.

Are there other indirect taxes?

Excise taxes and import taxes.

What supplies are subject to VAT?

A supply of goods of goods will in principle be taxed in case it is considered a local delivery (the goods are delivered by a local party).

What are the standard or other rates (i.e. reduced rate) for VAT/GST and other indirect taxes?

  • Supply and import of goods: 10 percent. 
  • Supply of services: 8 percent.
  • Luxury goods: 25 percent. 
  • Exempt goods: 0 percent. 

Who is required to register for VAT/GST and other indirect taxes?

This is determined on a case-by-case basis.

VAT/GST registration

Who is required to register for transfer tax? 

Not applicable.

Is voluntary registration for VAT/GST and other indirect taxes possible for an overseas company (e.g. if the annual turnover is below the relevant VAT/GST and other indirect taxes registration threshold)?

Yes.

Are there any simplifications that could avoid the need for an overseas company to register for VAT?

In principle, no.

Does an overseas company need to appoint a fiscal representative?

In principle, no.

Which forms and supporting documentation does an overseas company need to submit for VAT/GST and other indirect tax registrations?

This is determined on a case-by-case basis.

Is grouping* for VAT/GST and other indirect taxes possible?

No.

VAT/GST compliance

How frequently are VAT/GST and other indirect tax returns submitted?

Monthly.

What are the exchange rate rules in your country?

The Central Bank of Suriname publishes official exchange rates on their website daily.

International Supplies of Goods and Services

Exports – Goods

How are exports of goods treated?

A zero rate may apply to goods that are being exported. Specific conditions may apply.

Exports – Services

How are exports of services treated for VAT/GST purposes?

These services may be taxable for turnover tax purposes, since there will be a local services provider.

Imports – Goods

How are goods dealt with on importation?

They may be subject to import duties.

Imports – Services

How are services brought in from abroad treated for VAT purposes?

Services from abroad may be taxable for local turnover tax purposes due to the extensive place of service rules.

VAT/GST recovery

Can an overseas company recover VAT/GST and other indirect taxes if not registered for VAT/GST locally?

No.

Are there any exemptions with the right to recover or deduct input VAT?

This is determined on a case-by-case basis.

Are there any restrictions to the deduction of input VAT?

This is determined on a case-by-case basis.

Tax points

When is VAT/GST due on a supply of goods or services?

The turnover tax is, in principle, due when remuneration is (partially) received. A tax return is filed within 15 days after the end of the specific month.

Invoices

Is a business required to issue tax invoices?

Yes.

Is it possible/mandatory to issue invoices electronically?

Yes, it is possible but not mandatory.

Is it possible for the vendor to issue an invoice (i.e. self-billing)?

No.

Record-Keeping Requirements

How long must records and invoices be retained?

In principle, 10 years.

Can the invoices be stored abroad?

No, in principle.

Audits

Do tax audits take place on a regular basis?

Yes.

Are audits done electronically in your country (e-audit)? If so, what system is in use?

No.

What penalties can arise from non-compliance?

When no tax return is filed, or it has not been filed in a timely manner, the penalty varies between 10 and 1,000 Surinamese dollars (SRD).

When turnover tax due has not been paid on time (wholly or partially), the penalty varies between SRD10 and SRD1,000 depending on the situation.

An offense penalty can be imposed when no, or insufficient, turnover tax is paid due to deliberate intent or gross negligence of the taxpayer. The penalty varies from 5 to 100 percent of the tax due and per infringement, depending on the situation.

Special Indirect tax rules

Are there any special rules for the sale of a company by one taxpayer to another where VAT is not due on the sale?

Not applicable.

Are there unique specific indirect tax rules that you would not expect to find in ‘standard’ VAT jurisdictions?

The taxable services are limited by law. Therefore, liability for turnover tax purposes needs to be determined on a case-by-case basis.

Does a reverse-charge mechanism apply for goods or services?

Yes.

Are there indirect tax incentives available (e.g. reduced rates, tax holidays)?

Yes, applicability is determined on a case-by-case basis.

Rulings

Are rulings and decisions issued by the tax authorities publicly available?

Decisions by state level are not publically available.

Rulings are usually not publically available.

Footnote

*By ‘grouping’ we mean: either a consolidation mechanism between taxpayers belonging to the same group (payment and refund are compensated but taxpayers remain distinct) or a fiscal unity for VAT/GST purposes (several taxpayers are regarded as a single taxpayer).

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