Suriname - Pricing Suriname - Pricing
Under the Price Setting and Monitoring Law, the Minister of Trade and Industry can determine the maximum price or mark-up for any good or service sold in Suriname.
Government authorities indicate that mark-ups are determined by factory cost for goods produced domestically. Mark-ups on imported goods are calculated by the C.I.F. (Cost Insurance and Freight) value, plus customs duties and other taxes. Maximum permitted mark-ups range from 10 to 22 percent at the wholesale level and from 15 to 35 percent at the retail level.
The government sets prices for certain basic food and household items, such as butane gas and milk. A price control framework is in place on an ad hoc basis for a list of 13products of necessity. The government also regulates prices for public utilities. The Ministry of Natural Resources sets power and water prices, while the Ministry of Transport, Communications, and Tourism sets prices for telephone services. The government increased utility rates in 2015 and has announced its intention to implement a value added tax (VAT). There is a sales tax of 10% on goods and 8% on services. The government has announced its intention to implement a value added tax (VAT).