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Suriname: Koniki: “Companies should get more information about how VAT works”

It is important that the Ministry of Finance and Planning sets out a one-year trajectory by 2022 in which companies receive guidance, training and even more information about the introduction and operation of the new tax type, value added tax (VAT) in Suriname. . This is what the new Deputy Director Administrative Services of the Directorate of Sustainable Development Afro Surinamese (DOAS), Kelvin Koniki, in conversation with Suriname Herald.

To obtain the degree of Bachelor of Science in Economics, Koniki researched the financial-administrative process in external auditing of the theoretical requirement for the implementation of VAT.

Koniki indicates that he came to the conclusion that in general the need for more information about the tax type VAT is still high. The demand for guidance and training is also fairly high at both medium-sized and large companies. Consideration is given to the requirements that receipts must meet and accounting computer programs, information about the operation of the VAT system and the removal of obstacles to the introduction of VAT at both the Ministry of Finance and Planning and companies.

Koniki further says that for the greatest possible accuracy of the VAT system in our country, it is important that the Ministry of Finance and Planning develops “VAT guidelines” for companies up to a year before the introduction of this tax type, so that the possible gaps in the Value Added Tax Act are covered.

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