New wage tax brackets per January 2024

The State Decree (S.B 2024 no. 2) outlining the proposed Wage Tax amendments has been published, effective January 1, 2024. Key changes include an increase in the tax-free amount from SRD 7,500 to SRD 9,000 per month, a hike in tax deduction from SRD 100 to SRD 400, and adjustments in the wage tax brackets
new tax brackets

New wage tax brackets per January 2024

Dear readers, we informed you recently of the proposed Wage Tax amendments in Suriname.

The President announced last year the adjustments of the wage tax brackets per January 1st, 2024.

We want to inform you that the State Decree for these amendments has been published (S.B 2024 no. 2).

Please find below the amendments in the Wage Tax, effective from January 1st, 2024:

  1. Increase of the tax-free amount to SRD 9,000 (the tax-free amount was SRD 7,500 per month).
  2. The increase of the tax deduction to SRD 400 (the tax deduction was SRD 100).
  3. Adjustments to the wage tax brackets.

The wage tax brackets per January 2024 are as follows:

As the State Decree has been published, the amendments can be formally implemented in the payroll.

If you have any questions or concerns regarding the above-mentioned changes, please don’t hesitate to contact us via email on: info@kgltaxlegal.com.

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