Tax measures of the Ministry of Finance under COVID-19

Frequently asked questions (FAQ) about the tax measures of the Ministry of Finance in the context of COVID-19
Veel gestelde vragen (FAQ) over de versoepelde fiscale maatregelen van het Ministerie van Financiën in het kader van COVID-19

WAGE TAX AND INCOME TAX

Tax credit

Can SRD 750 tax discount be applied in May 2020 up to and including December 2021?                    Yes, that is possible.

On May 20, 2020, the Minister of Finance announced (Sec.no. 258/20 / Min.) that in the context of COVID-19 crisis measures to be taken, the government has decided that in advance of the publication of the State Decree the tax discount of SRD 750 (seven hundred and fifty Surinamese Dollar) can be applied as of May 1, 2020. The Tax Credit of SRD 750 will be applicable for a maximum period of 6 (six) months. The Minister of Finance has also indicated that a monthly evaluation will take place.

On September 18, 2020 and on November 17, 2020, the Minister of Finance and Planning informed the Parliament that, in the context of social measures to be taken, the government has decided that in advance of the publication of the State Decree the tax discount of SRD 125 (one hundred and twenty-five Surinamese dollars) can be adjusted to SRD 750 (seven hundred and fifty Surinamese Dollar). This measure will apply until the moment of the introduction of  the Value Added Tax (VAT).
The States Decree have been published:
  • State Decree of November 30, 2020 (SB 2020 no. 206) regarding the amendment of the tax credit in the Wage Tax Act.
  • State Decree of November 30, 2020 (SB 2020 no. 210) regarding the amendment of the tax credit in the Income Tax Act.
 

INCOME TAX

Provisional income tax return 2020

1. What is the deadline for submitting the provisional income tax return 2020?                                       The deadline for submitting the provisional income tax return 2020 is July 30, 2020

2. When must the installments for the provisional income tax return 2020 be paid?

  • 1st term: no later than July 30, 2020
  • 2nd term: no later than July 30, 2020
  • 3rd term: no later than October 15, 2020
  • 4th term: no later than December 31, 2020 

3. Will there be a penalty and interest charge for the provisional income tax return 2020?                    For the provisional income tax return 2020, no penalty and interest will be charged until July 30, 2020 for the first and second term.

 

Final income tax return 2019

1. What is the deadline for submitting the final income tax return 2019?                                                  The deadline for submitting the final income tax return 2019 is August 15, 2020.

2. When must the income tax due, on the final income tax return 2019 be paid?                                    The income tax due on the final income tax return 2019 must be paid no later than August 15, 2020.

3. Will there be a penalty and interest charge for the final income tax return 2019?                                 For the final income tax return 2019, no penalty and interest will be charged until August 15, 2020.

 

Assistance from the tax authorities

In which period will the tax authorities, located at Van Sommelsdijckstraat 27, Paramaribo, provide free of charge assistance with the provisional income tax return 2020 and the final income tax return 2019?                                                                                                                                                         Assistance from the tax authorities with completing a tax return will take place in the period from July 15, 2020 till August 14, 2020.

 

WAGE TAX AND AOV PREMIUM

1. What is the deadline for submitting the wage tax and AOV premium return?                                      The wage tax and AOV premium return must be submitted no later than the 7th working day of the following month. Payment of the payable wage tax and AOV premium must be made simultaneously on the day that the return is submitted.

2. Will the tax authorities make exceptions to the submission and payment of wage tax and AOV premium returns for the period March 2020 till June 2020?                                                                        Under certain conditions, the tax authorities will be flexible for taxpayers who request a postponement for submission and payment of the wage tax for the period March 2020 till June 2020. 

 

SALES TAX 

1. What is the deadline for submitting the sales tax return?                                                                        The sales tax return must be submitted no later than 15th day of the following month. Payment of the payable sales tax must be made simultaneously on the day that the return is submitted.

2. Will the tax authorities make exceptions to the submission and payment of sales tax returns for the period March 2020 till June 2020?                                                                                                              Under certain conditions, the tax authorities will be flexible for taxpayers who request a postponement for submission and payment of the sales tax for the period March 2020 till June 2020.

 

PAYMENT ARRANGEMENT

Are taxpayers eligible for a payment arrangement for income tax, wage tax and AOV premium and sales tax?                                                                                                                                                                Yes, taxpayers can request the Tax Collector for a payment arrangement for income tax, wage tax and AOV premium and sales tax. The request must substantiate and demonstrate that the taxpayer is experiencing liquidity problems due to the COVID-19 crisis.

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