Suriname introduces VAT system beginning January 1st, 2023, at a rate of 10%

August 31, 2022

Suriname will introduce 10% VAT  in 2023

On August 30, 2022, the Surinamese parliament passed legislation to remove the turnover tax and introduce a new VAT system. The 10% VAT rate is planned to come into effect on the 1st of January, 2023. The parliament will evaluate the implementation after the first year and suggest necessary reforms, as there are concerns regarding the impact of VAT on inflation.

Furthermore, the tax authorities have been instructed to set up the necessary infrastructure (e.g. software, invoicing requirements, mapping processes, training the staff) and to conduct the transition from turnover tax to VAT. 

More details to follow from the government. 

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Agustín Trevisiol
Tax Researcher

Agustin is an International Tax Lawyer and specialist in cross-border digital transactions. He has worked with VAT, GST, and DST in over 90 countries on all five continents. Over those jurisdictions, he has been handling registration thresholds and procedures, invoicing requirements, compliance, return submission, and tax remittance. With that respect, he has been providing assistance and advisory to many leading firms in the digital economy, especially in online education, video games, and fintech.