Working in Suriname?
Working in Suriname
The currency in Suriname is the Surinamese Dollar (SRD). The economy in Suriname is anchored on mining bauxite and exporting aluminum to the U.S.A. and other countries worldwide. Helpfully, the Aluminum Company of America (Alcoa) built a dam here in the 1960s, and the hydropower from this has enabled the nation to run mining plants very economically.
There is some gold mining and oil production, too, but not on the same scale as bauxite. Suriname also exports small amounts of rice, shrimp, hardwood, bananas, and other fruits and vegetables.
Work Permits for Suriname
Expats working in Suriname will need a work permit, unless they are married to a Surinamese citizen, will be working as a civil servant, or have the status of CARICOM competent citizen. Work permits for expats will only be considered if there is no Surinamese equivalent available for the role in question. The responsibility for obtaining this permit sits with the employer.
The application can be found on the Department Work Permit Foreigners section of the government website, and needs to be submitted with a photograph, a copy of residence permit, a copy of the passport, a statement from the employer, copies of relevant credentials and certifications, and a deposit receipt for the necessary fees. Work permits are typically issued within 30 days of application.
Taxation in Suriname
Expats working in Suriname will be liable to pay taxes on all of their income, including pensions, regardless of whether it was earned in Suriname or not. The exception to this rule are countries that have an agreement with Suriname. It is worth checking this before deciding to work in Suriname, to ensure paying double tax is avoided. There is an allowance, and the income tax rates after that are as follows:
- 0.00–2,646.00 SRD (816.67 USD) — 0%
- 2,646.01–14,002.80 SRD (4,321.85 USD) — 8%
- 14,002.81–21,919.80 SRD (6,765.37 USD) — 18%
- 21,919.81–32,839.80 SRD (10,135.74 USD) — 28%
- 31,829.81+ — 38%
VAT is set at 10% for goods and 8% for services, but staple foods are exempt.