Suriname published the Value Added Tax Act 2022 (VAT Act) in the Official Gazette on 14 October 2022. As previously reported, the Act provides for the introduction of a new VAT system that replaces the current sales (turnover) tax system with effect from 1 January 2023.
Under the new system, the following are subject to VAT:
- the supply of goods in Suriname for consideration by an "entrepreneur";
- the provision of services in Suriname for consideration by an "entrepreneur"; and
- the import o…