Doing business in Suriname often turns out to be a challenging undertaking. There are abundant opportunities, but working conditions can be complex…
WE TRULY UNDERSTAND THE BUSINESS ENVIRONMENT WE’RE WORKING IN
Oil and Gas Services
Economic Outlook 2020
SURINAME ECONOMIC OUTLOOK
The economy of Suriname continues to grow steadily with low inflation, but remains vulnerable due to fiscal imbalances and a lack of urgently needed reforms. The fiscal position is likely to weaken further due to the upcoming elections in May 2020.
It is expected that the recent offshore oil discovery of Apache/Total in Block 58 and further offshore exploration activities of Petronas, Tullow and Kosmos Energy may have a positive impact on the mid-term outlook. The same actually counts for the planned investments of Iamgold and Newmont in respectively their Saramacca Project and Sabajo Project.
Offshore Oil Discovery
AT LAST WE HAVE
It took some time, but the waiting game for its first offshore oil at last has paid off for Suriname.
Apache and Total, each with a 50% interest in Block 58, recently announced that their Maka Central-1 well has encountered more than 123 meters net pay of high-quality light oil and gas rich condensate, in multiple stacked reservoirs. The companies are now working on an appraisal plan, to appraise the resources and productivity of the reservoir, which will be completed in the coming months.
2020 Tax Filing
2020 TAX FILING DEADLINES
April traditionally is the time of the year when taxpayers in Suriname are caught in the hectic of an “April Madness” to meet the filing deadline for their tax returns. All corporate and individual taxpayers with a filing obligation for income tax generally need to file their 2018 Provisional Tax Return