Which Wage Tax tables are applicable in Suriname payrolls?
The tax is nil for the first full amount of SRD 2,646 per year of the income. That concerns the so-called tax-free basic allowance.
The tax on the part of the income that exceeds SRD 2,646 is then calculated on the basis of the following table:
Table 1 Normal rate:
(amounts per year)
of the part of the income up to and including SRD 11,356.80 - 8%
of the part of the income above SRD 11,356.80 up to SRD 19,273.80 - 18%
of the part of the income above SRD 19,273.80 up to and including SRD 30,193.80 - 28%
of the part of the income above SRD 30,193.80 - 38%
Table 2 Payments at once:
At the request of the taxpayer, lump-sum payments at once are to be regarded as salary from employment, but which do not relate to a specific period comprising several normal pay periods, are not taxed according to the calculation method of Table 1. This request is addressed to the Tax Authorities.
(amounts per payment)
of the part up to and including SRD 11,356.80 - 5%
of the part above SRD 11,356.80 up to and including SRD 19,273.80 - 15%
of the part above SRD 19,273.80 up to and including SRD 30,193.80 - 25%
of the part above SRD 30,193.80 - 35%
Table 3 Overtime:
At the request of the taxpayer, wages are awarded on account of overtime, performed in a wage period of one month, taxed as follows:
(amounts per month)
of the part up to and including SRD 500 - 5%
from the part above SRD 500 to SRD 1,100 - 15%
of the part above SRD 1,100 - 25%
Extra Income Tax Table (in Dutch: Tabel Bijzondere Beloningen):
(article 17-13 from Wage Tax Act)
1. A special/extra payment for a period covering several normal pay periods shall be taxed separately.
2. The tax on the special payment referred to in the first paragraph (in Dutch: bijzondere beloning) can be calculated as follows:
a) the amount of the special payment is divided by the number of normal wage periods to which the special payment is attributable and then added to the wages charged according to the table over the wage period in which the special payment is received;
b. on the wage amount obtained as a result under a., the tax is determined according to the periodic wage tax table;
c. the tax amount as outcome of letter b. is reduced by the amount of tax payable according to the tax table over the normal/periodic salary;
d. the tax due on the special payment is equal to the outcome of the difference calculated under c multiplied by the number of normal wage periods referred to under a;
e. the number of wage periods to which the special payment is attributable is equal to the number of wage periods to which the special payment relates.