Suriname is introducing a new VAT system that will replace the current sales (turnover) tax. A 10% VAT rate will come into effect on 1 January 2023. Businesses with annual taxable turnover exceeding SRD 1 million are required to register and others may voluntarily register.
Non-resident suppliers providing digital services to non-taxable persons in Suriname will also be required to collect and remit VAT on their supplies if their annual turnover exceeds SRD 500,000.
