Suriname Tax Tables 2024 - Tax Rates and Thresholds in Suriname

This page contains the tax table information used for the calculation of tax and payroll deductions in Suriname in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ SR, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Suriname or would like to add to or suggest amendments to the information herein then please contact us.

Suriname Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Suriname are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Suriname Tax Calculator 2024.

In Suriname, social security deductions made by employees are generally not deductible for the purpose of calculating taxable income. This means that when individuals calculate their taxable income for income tax purposes, the amounts they contribute to social security are not subtracted from their gross income. The taxation system treats these contributions separately from the income tax calculation, focusing on the gross income before any social security deductions are made.

Suriname Social Security and Payroll Deduction Rates in 2024

In Suriname, both employees and employers are subject to social security and payroll deductions. These contributions are designed to provide financial security and benefits to workers in various circumstances, such as old age, disability, and unemployment. Understanding these deductions is crucial for both employers and employees to ensure compliance and to appreciate the benefits they are entitled to.

General Social Security System

The social security system in Suriname is a fundamental component of the country's welfare system, providing support to employees and their families in times of need. This system is funded through contributions from both employers and employees, covering various types of benefits.

Old Age Pension (AOV)

One of the primary elements of social security in Suriname is the Old Age Pension (AOV), which provides financial assistance to individuals upon reaching retirement age. This pension aims to ensure that citizens have a basic level of income in their old age. Both employers and employees contribute to this fund, which is managed by the government.

Disability Insurance

Disability insurance is another crucial component of the social security system, offering income support to individuals who are unable to work due to a disability. This insurance helps to mitigate the financial impact of losing the ability to earn an income due to physical or mental impairments.

Health Insurance

Health insurance contributions are mandatory for both employees and employers, ensuring that workers have access to medical care. This includes coverage for various medical services, from routine check-ups to more complex procedures, contributing to the overall health and well-being of the workforce.

Unemployment Insurance

While Suriname's social security system includes provisions for unemployment benefits, these are typically more limited in scope compared to other countries. Unemployment insurance aims to provide temporary financial assistance to individuals who have lost their jobs, helping them to support themselves while they search for new employment.

Workplace Injury Insurance

Workplace injury insurance is designed to cover medical expenses and provide income support to employees who are injured on the job. This insurance ensures that workers are protected financially in case of work-related accidents or illnesses.

Employer's Contributions

In addition to the deductions from employees' salaries, employers in Suriname are required to make their own contributions to the social security system. These contributions are an essential part of funding the social benefits available to employees, reflecting the shared responsibility for social welfare.

Suriname VAT Rates in 2024

VAT rates for Suriname are reviewed annually, you can use the VAT Calculator to calculate VAT due in Suriname or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Suriname

The following tax tables are supported by iCalculator™ SR as part of the suite of free tax tools we provide for Suriname.