Corporate Income Tax

Summary of the Corporate Income Tax Law

For entities, a distinction is made between entities established in Suriname and entities not established in Suriname.

Resident Companies

By law, the following entities established in Suriname are taxable:

  1. Limited liability companies, limited partnerships on shares and other companies in which the capital is divided entirely or partly into shares
  2. cooperative associations and other associations on a cooperative basis
  3. mutual insurance companies, as well as associations acting on a mutual basis as an insurer or credit institution
  4. private law entities and associations without legal personality, not mentioned above, if and insofar as they run a business, other than solely for the purpose of promoting a general social interest
  5. legal entities established by law if and insofar as they conduct a business.

Nonresident Companies

The following entities not established in Suriname, which enjoy domestic gross income, are liable to tax: legal persons, limited partnerships on shares and other companies that do not have legal personality, in which the capital is wholly or partly divided into shares, associations without legal personality and target assets.

Nonresident companies are subject to income tax in Suriname if they have income derived from sources as real property or beneficial rights to real property and profits from enterprises carrying out operations through a permanent establishment (for example a branch) in Suriname.

Article 28 of the Surinamese income tax law describes when an activity of a foreign company who does not have an office/branch in Suriname is considered to result in a permanent establishment.

According to article 28 profits from a business shall each time be considered to have been obtained by means of a permanent establishment in Suriname for as far as it results from the performance of the following activities in Suriname:

  1. Acting as an insurer
  2. The execution of building, construction, assembly, digging, exploration, dredging or cleaning activities or other activities, either for more than 183 days within a period of twelve months, or as part of a work which is subsequently executed by various entrepreneurs and of which the total duration exceeds 183 days within a time period of twelve months
  3. Aerial surveying activities and other activities aimed at the inventory of natural resources

Profits from a business shall each time be deemed to have been obtained by means of a permanent establishment present in Suriname for as far as it results from the exploration or exploitation of natural resources on a part of the continental shelf before the Surinamese coast for which the State has granted a license or concession for such exploration or exploitation.

The law also stipulates that the complete profits made by the taxpayer on goods from Surinamese origin, and of which the ownership is transferred in Suriname to the customer shall each time be attributed to the permanent establishment present in Suriname by means of which the taxpayer conducts a business.

Immoveable property located in Suriname, which belongs to the assets of a company of which the profits made in Suriname are not included in the domestic gross income on the basis of the provisions of this Act, shall be considered as separate corporate capital. The profits obtained with such separate company shall also be included in the domestic gross income.


Until January 31, 2021, the rate for the corporate income tax for companies established in Suriname and not in Suriname is 36%.

From February 1, 2021 to December 31, 2021, the corporate income tax for companies established in Suriname and not in Suriname is:

  • 36% up to a taxable amount of SRD 150,000.
  • 46% above a taxable amount of SRD 150,000

Taxable profit

Taxable profits are computed in accordance with sound business practice. In principle, all expenses incurred in connection with the conduct of a business are deductible. If expenses exceed normal arm’s length principle charges and are incurred directly or indirectly for the benefit of shareholders or related parties, the excess is considered a non-deductible profit distribution. Note that there is no specific transfer pricing regulation in the Surinamese tax law. Therefore the general at arm’s length principle apply.

All methods of depreciation are permitted, provided they are in accordance with sound business practice and applied consistently. Depreciation is based on the cost, useful life and salvage value of the asset. There are no official guidelines for depreciation rates. In practice, the rates may be agreed on between the taxpayer and the tax authorities. Based on the Mining Decree of 1986 or the Investment Code a request can be filed at The Minister of Finance for accelerated depreciation.

Capital gains are treated as ordinary taxable income and taxed at the corporate tax rate.

Tax Return

The Surinamese Income Tax System is referred to as a “Self Assessment System”. This system means that the taxpayer must calculate and declare the income tax due. By April 15 of the calendar year, the taxpayer must file a provisional income tax return, including an estimate of the tax due for the year. The taxpayer can pay the estimated tax in four equal installments, due no later than April 15, July 15, October 15, and December 31 for that year.

At the end of each year, companies must file a final income tax return. The due date for filing and payment of the tax amount calculated based on the return (less the payment of the provisional return) is June 30. Interest will be charged for late payments. Please note that fines may be imposed if the filing / payment of the required tax return / installment is not completed on time.

The filing dates may be different if the taxpayer has received permission from the Inspector. Special permission from the Minister of Finance is required for keeping the books in a currency other than the Surinamese Dollar.

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