Income tax for individuals

The Income Tax Act makes a distinction between resident and non-resident taxpayers. Resident taxpayers are taxable on their worldwide income, while non-resident taxpayers are taxed only on the positive and negative revenue from domestic sources of income.

A person becomes resident taxpayer when the center of his personal economic interests is located in Suriname. This is determined based on facts and circumstances, e.g. the workplace or the place where the family lives. For determining tax residency a residence permit is not a requirement.

Resident taxpayers
Resident taxpayers are taxed on their pure income (read: taxable income). Taxable income is impure income less deductible losses and personal deductions. Impure income is the aggregate amount of what the taxpayer enjoys as positive and negative pure revenue from:

1. real estate;
2. capital;
3. a business e.g. sole proprietorship (profit) and labor (wages);
4. rights to periodic life benefits;
5. interest

Taxable income includes taxable income from employment. The income from work paid to a person is subject to wage tax withholding. The wage tax is an input tax on the income tax, where the wage tax is deducted from the income tax due. The wage tax can also serve as a final levy, in case the taxpayer does not need to file a income tax return.

Non-resident taxpayers
Non-resident taxpayers are only taxed on the positive and negative revenue from domestic sources of income:

1. as far as real estate concerns: real estate located in Suriname
2. as far as capital concerns:
   • debt claims, secured by mortgage on real estate located or established in Suriname business;
   • rights to shares in the profits of a company, of which the management is settled in Suriname, insofar as they do not arise from securities holdings;
3. as far as business and labor are concerned:
   • business, insofar as the profit obtained from it can be attributed to a permanent establishment in Suriname, from which the business is conducted;
   • employment as a director or supervisory director of a company established in Suriname;
   • employment, if and insofar as proceeds are obtained from this with regard to the fulfillment or completion of the employment in Suriname;
   • employment, if and insofar as proceeds are obtained from this at the expense of a Surinamese legal person under public law or of a fund of such a legal person, whether or not having legal personality;
4. as far as rights to periodic of life benefits: rights to leave and non-activity benefits, redundancy pay or pension payable by a Surinamese legal entity under public law or by a fund of such a legal entity, whether or not possessing legal personality.

Income from sources other than those mentioned above are not taxable in Suriname.

Tax rate 2024
The tax rate for individuals is a progressive rate

Tax rate 2023
The tax rate for individuals is a progressive rate

Tax rate 2022
The tax rate for individuals is a progressive rate

Tax rate 2021
The tax rate for individuals is a progressive rate

Tax Return
The Surinamese Income Tax System is referred to as a ‘Self Assessment System’. This system means that the taxpayer himself must calculate and declare the income tax due.

Not submitting the declaration on time can have the following consequences:

• The Inspector of Direct Taxes can impose an income tax assessment, including a fine.
• The Tax Collector Taxes can charge interest for not meeting the payment obligation on time.

Provisional income tax return
By April 15 of the calendar year, the individual must submit a provisional income tax return based on an estimate of the income for the current year. The tax due on the basis of the provisional return can be paid in four equal installments, at the latest on 15 April, 15 July, 15 October and 31 December of the current year.

Is the calculated tax according to the estimate lower than the calculated tax according to the last submitted final income tax return? Then a request must be submitted to the Inspector of Direct Taxes no later than February 15, for approval of the lower tax amount. If a lower amount is included in the provisional tax return without the consent of the Inspector of Direct Taxes, he may impose a provisional income tax assessment including a fine.

Final income tax return
At the end of each year, individuals must submit a final income tax return. The due date for filing and payment of the tax amount calculated on the basis of the return (less payment of the provisional return) is April 30.

Personal Deductions
Individuals can claim the following personal deductions:

1. Interest on the debt of a home mortgage up to a mortgage loan of maximum:
   • SRD 600,000.- up to and including December 31, 2024
   • SRD 125,000.- up to and including December 31, 2022
2. Costs of exterior painting for your own home (maximum once every three years)
3. Premiums for annuities and other periodic disability and old age benefits in kind up to a maximum of 10% of the income.
4. Necessarily provided benefits and subsistence benefits to needy parents, parents-in-law and own and / or foster children, insofar as the costs exceed 10% of the impure income. Furthermore, the amount may not exceed the needs of the beneficiary of the benefit or benefit, and the income.
5. Paid necessary costs in connection with illness, childbirth, accident, disability or death of the taxpayer, his spouse and minor own and / or foster children to the extent that the costs exceed 10% of the income.
6. For each minor living at home and / or foster child aged 18 and older, SRD 8,000.- can be deducted from the impure income if this child is – whether soul deficiencies cannot provide for his own maintenance, provided that no benefit is paid for this child in respect of those persistent physical or mental deficiencies.
7. Paid annuities, pensions and other periodic benefits such as divorce payments and benefits in kind.