Suriname - Taxation


Direct taxes provide only a small portion of governmental revenues, and payments have been in arrears for years. By far the greatest tax sources are the bauxite-related industries. Companies are taxed on the sum of all net profits. The corporate income tax has a flat rate of 38%, and the dividend tax is 25%. All the operating costs of a company are tax deductible, at set rates for certain equipment. The main indirect tax is Suriname's value-added tax (VAT). As of 1 December 2002, the basic rate for goods was raised from 8% to 10%, and the basic rate for services, from 7% to 8%. Staple foods are exempt from VAT.

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M. Persad
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Jan 10, 2010 @ 12:12 pm
The corporate tax rate for 2009 is 36%. Legislation is in process to reduce this to 35% in 2010. there is a special tax regime for assurance companies. Also, under the current Investment Code of 2001 it is possbile for both local and foreign investors to claim certain tax incentives such as free depriciation and even tax freedom for 10 years max. For large investments in the mineral sector (bauxite, oil and gold) special arrangements are possible.
The tax income for the government is estimated to be for 45% income/corporate tax, and 50% VAT.

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