Per the resolution of July 23, 2021, the tariff for a work permit for foreigners working in the timber and mining sector has increased to USD 500. This tariff is applicable since August 26, 2021.
The work permit is issued for a maximum period of one (1) year.
Per the Act of December 1, 2022, the tariff for a work permit for foreigners in the remaining sectors is increased to USD 100. This tariff is applicable since December 15, 2022.
2. Pension Premium
According to the General Pension Premium Act, the tariff for pension premium was initially 3%. Starting January 1, 2016, the tariff increases by 0,5% yearly.
The tariff for pension premium for 2023 is 7%, whereof at least 50% should be paid by the employer and a maximum of 50% should be paid by the employee.
3. Old Age Premium
The tariff for old age premium is 4% and applies to citizens of Suriname, whether or not with Surinamese nationality, and who are liable to pay contributions which, under the provisions of the “Income Tax 1922”, profit from business or profession or receive wages from employment and who has not yet reached the age of 60 years.
Earlier it was possible to get an AOV exemption for ex-pats. However, the Tax Authorities are now being strict and do not want to issue a general exemption. They are making an internal policy to tackle such requests.
4. Parental leave – The Parental Leave Provisions Fund
The Ministry of Labor, Work opportunity and Youth Affairs has recently announced that for the further execution of the Family Protection Act, they have started with a registration obligation for employers with regard to the payment of parental leave.
The registration obligation is a progression of the Parental Leave Provisions Fund (hereinafter: The Fund) as implemented in the Parental Leave Act. This registration means that all employers in Suriname are obliged to register their employees with the Fund.
The Fund has designed a special form for this purpose.
The registration obligation ends on February 15, 2023. They have also announced that employers who ignore the registration obligation can be fined. It is not clear what the fines will consist of.
As of March 1, 2023, the Fund will collect the legally required monthly contributions from both employers and employees.
By law, each employee and employer will be required to pay a contribution to the fund equal to one percent (1%) of the employee’s gross wages. Of this, the employee’s contribution amounts to a maximum of half a percent (½%) and the employer’s contribution to a minimum of half a percent (½%).
The employer is obliged to pay the employee and employer contributions to the fund on a monthly basis as long as an employment contract is in place.
Every employee, regardless of gender, age, belief, and sexual orientation, is obliged to make a monthly contribution to the Fund for Parental Leave Facilities.
The Fund will soon announce the commencement date of applications by the employer for payment of parental leave to employees.
Further information about the application by the employer for payment of parental leave to employees will follow shortly.