Suriname — Turnover tax (TOT)
|General VAT Rate||Other Rates||Local Currency|
|10%||25%, 0%||Dollar (SRD)|
Suriname's general VAT rate is 10%, with other rates including 25% and 0% that can apply to certain transactions. The Turnover tax (TOT) is administered by the Inspectie der Belastingen in Paramaribo.
Suriname's VAT tax on services is 8%.
Suriname is a member of the CARICOM trading bloc, which may affect international VAT collection and regulations.
Suriname's consumption tax is called the Turnover tax (TOT), locally known as Omzetbelasting, which was introduced in December 1997.
Suriname Rates for 2020
- Standard rate for services provided
- Standard rate for delivery of goods
- Standard rate for import of goods
- 25%, 0%
Suriname TOT number format
Businesses in Suriname that are required to collect tax will be issued an identification number. Tax identification numbers can be verified with the Inspectie der Belastingen, and will follow a certain format. The TOT number format is XXXXX (5 digits).
Suriname TOT return periods
Businesses in Suriname that are required to collect tax from consumers must file regular tax returns with the Inspectie der Belastingen in Paramaribo. Suriname's TOT return periods are:
Suriname Turnover tax (TOT) Thresholds
These are the revenue thresholds at which businesses in Suriname are required to start collecting and remitting tax.
Recovery of TOT by non-established businesses
Non-established businesses are small, unincorporated businesses that sell taxable goods and may consist of a single individual, or several. Non-incorporated businesses in Suriname are not required to collect taxes from the consumer.
Suriname VAT Refunds
Many countries allow tourists, and others making purchases for export, to receive a VAT refund on exiting the country (or make purchases VAT free). While we don't have data on the Suriname VAT refund program, more info can be obtained from the Inspectie der Belastingen.
Suriname Tax Sources & Citations
- EN: Suriname Value Added Tax
- RU: НДС
- CN: 增值税
- Suriname Inspectie der Belastingen (accessed 2020)
- Ernst & Young global VAT tax study, Suriname (updated 2020)
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