On December 20, 2024, the Tax Administration Act Suriname was officially issued and published in the Official Gazette of the Republic of Suriname . This law establishes a new ‘Tax Administration Suriname’ as a legal entity based in Paramaribo, with the possibility of opening branches elsewhere. The transition to this semi-autonomous tax authority will take place in three phases over a maximum period of five years.
Background and legislative process
The original draft law was submitted on September 12, 2022, under the name ‘Tax Authority Suriname Act’. During parliamentary discussions in December 2024, both the title and content were revised, and the law was unanimously adopted by the National Assembly on December 19, 2024.
Objectives and responsibilities of the tax administration
The new Tax Administration aims to support a financially stable Suriname by ensuring fair and transparent tax collection. Its key responsibilities include:
- Levying and collecting taxes;
- Supervising compliance with tax laws;
- Managing import, export, and transit of goods;
- Detecting and combating tax fraud;
- Advising on and preparing tax regulations.
Three-phase transition plan
The reform will be implemented in three phases:
- Preparation Phase (2 years): Establishing a transition team, developing new procedures, and adapting legislation.
- Implementation Phase (2 years): Transferring responsibilities, introducing new IT systems, and launching pilot projects.
- Optimization and Completion Phase (1 year): Evaluating, optimizing, and achieving full operational status of the Tax Administration.
With this reform, the Surinamese government aims to create a more efficient, transparent, and modern tax administration that enhances tax compliance and economic growth.
Do you wish to learn more about this development? Feel free to contact us at info@rootz.tax.
March 2025
