Resident vs. Non-Resident Taxpayers

The Surinamese Income Tax Act distinguishes between resident and non-resident taxpayers:

• Resident taxpayersare taxed on theirworldwide income.

• Non-resident taxpayersare taxed only on income derived fromdomestic sources.

Determining Residency

A person is considered a resident taxpayer if their center of personal and economic interests lies in Suriname. This is determined by factual circumstances such as:

• Place of employment, or

• Location of the family.

A residence permit is not required to qualify as a tax resident.

Taxation of Resident Taxpayers

Resident taxpayers are taxed on pure income (i.e., taxable income).

• Taxable income= impure income – deductible losses – personal deductions.

• Impure incomeincludes positive and negative revenue from:

1. real estate

2. capital

3. business (e.g., sole proprietorship profits) and employment (wages)

4. rights to periodic life benefits

5. interest

Employment Income

Income from work is subject to wage tax withholding:

• Wage tax is treated as an advance payment of income tax.

• In some cases, wage tax may also serve as the final levy, meaning no separate income tax return is required.

Taxation of Non-Resident Taxpayers

Non-resident taxpayers are taxed only on income from domestic sources, including:

• Real estate: Property located in Suriname.

• Capital:

1. Mortgage-backed debt claims on Surinamese real estate.

2. Rights to profit shares from companies managed in Suriname (excluding securities holdings).

• Periodic or life benefits: Pensions, redundancy pay, or allowances paid by a Surinamese public entity or fund.

Income Tax Rates

Tax Rates for 2024

• Taxable Income (SRD): Up to SRD 108,000 Rate: 0%

• Taxable Income (SRD): 108,000 – 150,000 Rate: 8%

• Taxable Income (SRD): 150,000 – 192,000 Rate: 18%

• Taxable Income (SRD): 192,000 – 234,000 Rate: 28%

• Taxable Income (SRD): Above 234,000 Rate: 38%

Tax Rates for 2023

• Taxable Income (SRD): Up to SRD 90,000 Rate: 0%

• Taxable Income (SRD): 90,000 – 101,356.80 Rate: 8%

• Taxable Income (SRD): 101,356.80 – 109,273.80 Rate: 18%

• Taxable Income (SRD): 109,273.80 – 120,193.80 Rate: 28%

• Taxable Income (SRD): Above 120,193.80 Rate: 38%

Tax Rates for 2022

• Taxable Income (SRD): Up to SRD 48,000 Rate: 0%

• Taxable Income (SRD): 48,000 – 59,356.80 Rate: 8%

• Taxable Income (SRD): 59,356.80 – 67,273.80 Rate: 18%

• Taxable Income (SRD): 67,273.80 – 78,193.80 Rate: 28%

• Taxable Income (SRD): Above 78,193.80 Rate: 38%

Tax Rates for 2021

January 1 – January 31, 2021

• Taxable Income (SRD): Up to SRD 2,646 Rate: 0%

• Taxable Income (SRD): 2,646 – 14,002.80 Rate: 8%

• Taxable Income (SRD): 14,002.80 – 21,919.80 Rate: 18%

• Taxable Income (SRD): 21,919.80 – 32,839.80 Rate: 28%

• Taxable Income (SRD): Above 32,839.80 Rate: 38%

February 1 – December 31, 2021

• Taxable Income (SRD): Up to SRD 2,646 Rate: 0%

• Taxable Income (SRD): 2,646 – 14,002.80 Rate: 8%

• Taxable Income (SRD): 14,002.80 – 21,919.80 Rate: 18%

• Taxable Income (SRD): 21,919.80 – 32,839.80 Rate: 28%

• Taxable Income (SRD): 32,839.80 – 150,646 Rate: 38%

• Taxable Income (SRD): Above 150,646 Rate: 48%

Tax Credits

• 2019: SRD 1,500

• 2020: SRD 6,500

• 2021: SRD 9,000

Filing Obligations

Self-Assessment System

Suriname uses a self-assessment system, meaning taxpayers must calculate and declare their own tax liability.

Penalties for late filing include:

• Assessments with fines imposed by the Tax Inspector.

• Interest charged by the Tax Collector for late payment.

Provisional Tax Return

• Due by April 15 each year, based on estimated income.

• Tax can be paid in four installments (April 15, July 15, October 15, December 31).

• If the estimate is lower than the last final tax return, approval from the Tax Inspector is required by February 15.

Final Tax Return

• Due by April 30 of the following year.

• Payment is based on the final return, reduced by provisional payments.

Personal Deductions

Taxpayers may claim the following deductions:

• Mortgage interest (loan up to SRD 600,000 by Dec 31, 2024; previously SRD 125,000 until Dec 31, 2022).

• Exterior painting costs of own home (once every 3 years).

• Annuity and pension premiums (up to 10% of income).

• Support payments to needy parents, in-laws, and children (exceeding 10% of income and limited to the needs of the recipient).

• Medical and related expenses (exceeding 10% of income).

• Child deduction: SRD 8,000 for each dependent child (including children 18+ unable to support themselves).

• Alimony and periodic payments (such as divorce settlements or support benefits).