31 January 2023
From 1 January 2023, the South American country of Suriname has imposed VAT on the sale of electronic services to local consumers by non-resident businesses.
Prior to January 2023, non-resident businesses providing digital services in Suriname did not have to charge VAT on their sales. However, to remove the unfair advantage this gives to non-resident companies over resident providers, the local tax authorities introduced a new VAT charge of 10% on these types of transactions.
This new tax will require foreign providers of electronic services to register for VAT if they exceed an annual registration threshold of SRD 500,000 (approx. £12,500) and will apply to a range of electronic services, including streaming games, music, apps, films, e-books, e-journals, software, and internet services.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
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