Flows of payments to the Government

Flows of payments to the Government

The following payment flows from the reporting companies are included in the reconciliation 2017:

Table 4.3 Payment type and reference with law applicable per reporting company
√= applicable; E= exempted; E< USD 300K= exempted till USD 300K / M: material/NM: not material/ I= included
*) not applicable for 2017, since the IOCs are still in phase 1 in 2017.

  • Direct taxes, indirect taxes, other income (non-tax). For these flows of payments, we refer to section 3 of this report.
  • Direct and indirect taxes are paid to the Tax Authorities and all income from other sources (non-tax) are payments to the GOS that are monitored by MOF regardless of the Ministry initiating these income streams.
  • Specific agreement with RGM. Contrary to 2016 SR-EITI Report, the MOF recognized the payments under the PPA1 (power plant agreement), being the 1st amendment in 2003 to the Mineral Agreement 1994, as other non-tax income.

In its missive of January 13, 2015, the Council of Ministers approved that this income from the Government should be transferred to the Suriname Energy Companies (a State-owned power company in Suriname, N.V. EBS) for capital investments. MOF reports this income as revenues from the Mining sector and the counter entry is a subsidy in the national budget to EBS.

2020-02-12T00:42:44-03:00Thursday 23 January 2020|EITI Suriname Report 2017|