Suriname’s National Assembly late Tuesday gave the green light to the Dutch-speaking CARICOM country implementing a 10 per cent value added tax (VAT) even as several business organisations, including the Suriname Business Association (SBA), the Chamber of Commerce and Industry (CCI) and the Association of Surinamese Manufacturers (ASM) had urged legislators to approve a lesser VAT.
By a vote of 26 to 12, with the main opposition National Democratic Party (NDP)voting against the measure and the NPS, one of the government partners supporting the legislation “under duress”.
Ivanildo Plein, one of the three government legislators voted in favour, while the other two including NPS leader Gregory Russia and Patricia Etnel stayed away from the vote in protest.
Plein said while the NPS is in favour of introducing VAT to replace turnover tax, the party had urged the government of President Chan Santokhi to reconsider its 10 per cent proposal and come up with a lower rate.
However, the NPS said it found the five per cent proposal by the opposition unrealistic because it would not achieve the government objectives, such as a reduction in payroll taxes from January 1, 2023.
