As a contractor in Suriname, two of your biggest tax concerns are probably going to be:
- Paying less taxes, and
- Reducing the admin involved in paying them.
Maybe these goals are obvious, but actually achieving them takes some planning. Having a strategy is crucial, because you may be able to work completely tax free.
Organising your taxes in Suriname on your own
Not only is the Tax system in Suriname dense, it’s updated regularly… meaning you’ll need to do a lot of studying if you want to organise your own taxes.
Generally, a taxpayer is any person who:
- Is domiciled in Suriname;
- Has resided in Suriname for 183 days or more;
- Derives income from sources in Suriname.
As an independent contractor, you may be eligible for certain tax advantages (or liable for taxation in other ways). You may not need to pay any taxes in Suriname at all. And, of course, you’re going to need to sort out what you owe in your home country.
Most people need some sort of specialist advice to begin understanding their tax liability in these situations. However, even after understanding what’s required of you, you will likely need to spend hours going over the return in meticulous detail.
Can employers organise Suriname expatriate taxation?
Yes, some can.
Unfortunately for a lot of contractors, though, most clients don’t offer that service to freelance workers. This route requires little to no effort from you, but it can be a huge burden to pick and choose your clients based on which ones can offer this service.
Are there any other options for expatriate tax in Suriname?
Many contractors choose to work under an Umbrella Company.
An Umbrella Company will calculate what you owe in taxes and fees, and process your payments. They act as your “employer,” although you still work exactly like you would as a contractor.
This allows you to pay as you earn, similar to having an employer or client organise your taxes. In this scenario, however, you don’t have to worry about who’s going to organise your taxes each time you take on a new contract.