Oil & Gas sector – Offshore activities

Tax jurisdictions in Suriname

For tax purposes, Suriname consists of three geographical jurisdictions.

A. The onshore area (mainland) and the territorial waters (up to 12 nautical miles from shore).

B. The Exclusive Economic Zone. The area between the 12 nautical miles from shore to 350 nautical miles off shore.

C. The Continental Shelf. The continental shelf extends from the coastline of a continent to a drop-off point called the shelf break. From the break, the shelf descends toward the deep ocean floor in what is called the continental slope. The continental shelf of Suriname may overlap with A. and B.

A very relevant question for companies with offshore exploration activities is to what extent a certain type of tax is applicable to the three types of jurisdictions.

Our February 2018 Tax Quick Note contains relevant insights on the applicability of tax to the three jurisdictions in Suriname.

Send me a request per e-mail to receive our Tax Quick Note of February 2018.

sgkenswil@kenswilconsult.com

www.kenswilconsult.com

 

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