The Suriname Business Association (VSB) says it understands the concerns regarding elderly people who, despite their advanced age, still have to work to make ends meet. The organization is responding to the recent discussion in the National Assembly, where the situation of an 80-year-old woman was cited as an example of the vulnerable position of senior citizens.
According to the VSB, this example strikes a chord. “No one can remain indifferent when senior citizens, after a lifetime of labor, do not enjoy sufficient social security,” the business organization states. The VSB emphasizes that the position of the elderly must be strengthened, but believes that solutions must be fair, sustainable, and broadly supported.
The organization questions the repeated increase in burdens on the formal economy. According to the VSB, the government has not yet demonstrably utilized all possibilities for generating revenue before looking again at citizens and companies that already pay taxes.
“For years, experts have pointed to the enormous untapped potential of the informal sector, extensive illegal gold mining, and shortcomings in tax collection,” according to the VSB. The organization states that millions of SRDs in potential state revenue remain out of reach because large parts of the economy contribute little or nothing to the collective burden.
According to the VSB, the government must first work on an effective approach to the illegal gold sector, the gradual formalization of the informal economy, more efficient tax collection, and a broader tax base in which everyone contributes according to their means. Waste and inefficiency within the public sector must also be reduced.
According to the business organization, the formal sector already bears a disproportionately large share of the tax burden. “Continuously increasing the burden on the same group undermines investment, employment, entrepreneurship, and ultimately the state’s future tax revenue,” the VSB warns.
In addition, the organization believes the government should take a critical look at the funds spent annually on loss-making state-owned enterprises. According to the VSB, these are companies that do not always adhere to the principles of good governance. By gradually phasing out financial support for such enterprises, resources could be freed up for solidarity measures and healthcare.
“True solidarity begins with a government that first utilizes all available sources of income and efficiency before approaching citizens and businesses that are already making their contribution,” states the VSB.
The organization says it fully supports strengthening the position of the elderly, but warns against measures that once again primarily affect the formal sector. According to the VSB, Suriname needs a broader, fairer, and more sustainable financial foundation.
“Suriname needs a broader, fairer, and more sustainable financial foundation – not a new levy that once again places the burden on those who are already visibly contributing,” according to the VSB.
