A summary of the results of the 2016 reconciliation is set out in the table below: Uncleared differences These differences are uncleared differences between MOF and Staatsolie amounting to SRD 7,681 thousand regarding wage tax differences paid in 2016 by…
In the next table the revenues received by MOF from the reporting companies are shown per sector in total and in proportion to the GDP. We explicitly note that the reported revenue in the EITI 2016 report does not reflect…
Ministry of Finance (MOF) Tax Authority of Ministry of Finance The Tax Authority is a separate division of the Ministry of Finance. This entity is headed by a director who reports directly to the Minister of Finance. All direct and…
(to be reported by MOF) Overview of fees applicable in the mining sector: Type of Fee Payment condition Fee SRD Sequence Application Up front 4.50 per/ha* at time of application Exploration Up front 1.20 per/ha at time of application and…
(to be reported by MOF) Staatsolie and offshore companies are exempted from paying: a. application; b. concession; c. exploration; d. exploitation and e. annual license fee There is no product sharing applicable for 2016, since IOCs were in the exploration…
There are no other payments based on liabilities to the Governments. Settlements of liabilities to the Government with a claim on outstanding balance with the Government are not considered as other payments to the Government since settlements are non-cash transactions…
Based on the financial data available at the Ministry of Finance, it has been concluded by MSG SEITI that 6 companies of the oil sector are considered material for this sector. Consequently, the 5 entities of the Oil Sector included…
Based on the financial data available at the Ministry of Finance, it has been concluded by MSG SEITI that 3 companies of the mining sector are considered material for this sector. Additionally, a group of small-scale gold miners associated in…
Payments based on Power Purchase Agreement With reference to the Power Purchase Agreement 1 (PPA 1) between RGM and the Republic of Suriname from 2003, amended in 2013, the Government receives monthly a payment from RGM based on the total…
The following payments are done directly to MOF a. Dividend payments by Mining Dividends from state owned companies, which in the case of Suriname are Grassalco, are paid directly to the MOF. This payment can be settled with outstanding balances…