Tax Season | RCD Article
Hello RCD readers,
How was everyone's Easter vacay?
My first week vacay began with a lot of follow ups, financial administration for tax season with combination of the Holy week. And because this I thought why not give some information that I know about Tax season.
During Covid I followed a workshop about taxes. Which is so weird that I can't find any piece of paperwork that was used that day. That is kind of annoying but the kind tax teaching was more for sole proprietorship. So it makes less sense. Now I'm not going to talk about the every nitty gritty detail about tax season.
But here are some things that I think you should know. I will keep it for Limited companies.
Tax types (belastingsoorten)
- Income tax
- BTW
- Wage tax/AOV
- Property tax
Declaration of notes: (aangiften formulieren)
- Final Income tax
- Provisional Income tax
- Wage tax/AOV
- Property tax
- BTW at the time sales tax
1) Income Tax (inkomsten belasting)
There are two types of note: NP (natural person) and L (bodies). With limited companies you will receive both tax return forms. There are four types of notes namely.
- NP(natural person) | Final Income tax
- NP(natural person) | Provisional Income tax
- L (bodies) | Final Income tax
- L (bodies) | Provisional Income tax
NP(natural person) | Final Income tax (natuurlijke persoon)
This tax return form can be picked up at the tax authorities office. This form must be completed in full and signed. It must be submitted to the Collector of Direct Taxes in Paramaribo or in the districts at the offices designated by him by April 30 at the latest (year after the working year has ended). At the same time you pay the calculated amount of Income Tax and AOV Premium. If you believe you should receive money back, the Inspector will determine an assessment. In principle, this takes place within two months. The Inspector can also impose an assessment if he disagrees with your declaration. This must be done within two years after submission of the bill. If you would like an explanation, please contact the Direct Tax Inspector.
NP(natural person) | Provisional Income Tax
This form must be completed in full and signed. It must be submitted to the Collector of Direct Taxes in Paramaribo or in the districts at the offices designated by him by April 15 (same year) at the latest. At the same time you pay one installment, i.e. a quarter of the calculated amount per year in Income Tax and AOV Premium. You must pay the remaining installments no later than July 15, October 15 and December 31 (year after the working year has ended).
What do you need to complete the form?
- Deducted premium from AOV (annual)
- Wage tax premium withheld (annually)
- Wage after deduction after pension premium (annual)
- Wage statement (annual)
Paying a pension is mandatory and can be done through insurance companies or through the pension fund foundation.
- Insurance companies usually charge approximately 17% of gross wages
- Pension fund foundation is 7% and is increased every year.
L (bodies) | Final Income tax (lichamen; bedrijven)
This tax return form can be picked up at the tax authorities office. This declaration is intended for bodies whose financial year ends. It must be submitted to the collector of Direct Taxes in Paramaribo or in the districts at the offices designated by him within 6 months after the end of the financial year. Usually this is no later than June 30 (year after working year has ended). At the same time, the tax must be paid if the calculation results in an amount to be paid by the body. Enclose a dated and signed copy of the opening and closing balance sheet and the profit and loss account, as well as the explanatory notes thereto, with this note. All amounts in this note are entered in whole dollars and rounded.
L (bodies) | Provisional Income tax
This form must be completed in full and signed. It must be submitted to the Collector of Direct Taxes in Paramaribo or in the districts at the offices designated by him no later than April 15 (same year), or within two and a half months after the start of the financial year. At the same time, one installment must be paid, that is, a quarter of the calculated Income Tax for the entire year. The remaining installments will be paid no later than July 15, October 15 and December 31 (year after the working year ends). Enclose a dated and signed statement with this note, showing the business income for the previous year.
What do you need to complete the form?
- Profit impure income (profit or loss amount; beginning and end of year)
- Calculated income tax (view link for information)
- Opening and closing balance (final)
- Profit and loss account (final)
- Explanation of appendices (final)
2) Wealth tax (vermogensbelasting; natuurlijke persoon)
This form must be returned, fully completed and signed, to the Collector of Direct Taxes in Paramaribo or in the districts, at the offices designated by him, no later than April 30, (year after working year is over). The form is completed for NP (natural person) and not L (bodies).
Recently it has become possible to fill in Wage Tax/AOV and BTW digitally.
Digital form submission:
- Wage tax/AOV
- BTW
Create account BTW
Explanation of creating an account
Create account LB/AOV
Explanation of creating an account
3) Payroll tax (loonbelasting)
The Wage Tax and AOV Premium withheld over the wage periods must be paid to the Collector of Direct Taxes on a tax return form no later than the seventh day after the end of the calendar month in which the wage periods ended.
What do you need to complete the form?
- Gross salary
- Payroll tax
- AOV premium
You can provide the following services digitally every month:
- Completing payroll tax/AOV form
- PDF file completed payroll tax/AOV form
Collective wage statement (verzamelloonstaat)
After the end of the calendar year, this statement must be sent to the Inspector of Direct Taxes, Wage Tax department, in the following January. The payroll tax cards must then be attached.
What do you need to complete the form?
- Master number and Landline number
- Other data from company L (bodies)
- Personal data of employees
- Annual salary, payroll tax withheld and AOV withheld (annually) per employee
I know this was a mouth full of information. But hope it gives a little look into everything. Have a productive Tuesday everyone
Comments
Post a Comment