Tax
Business tax on a territorial basis with 15 per cent VAT and no capital gains tax
The Business Tax Act charges tax on Seychelles-source business income, with rates banded by turnover and sector and a 25/33 per cent structure for larger companies before recent reform. VAT is 15 per cent. There is no capital gains tax and no inheritance tax, and IBCs are not taxed on foreign-source income.
Key rules
- Jurisdiction — The Seychelles Revenue Commission assesses; objections to the Revenue Commissioner; appeals to the Revenue Tribunal and the Supreme Court.
- Deadline — Business tax return: by 31 March following the 31 December year end
- Deadline — VAT return: monthly for registered businesses above the threshold
Governing law
- Business Tax Act 2009as amended
- Value Added Tax Act 2010
- Revenue Administration Act 2009
In practice
Territorial taxation combined with the absence of capital gains tax is the structural basis of the offshore sector, and the reforms following EU listing narrowed but did not remove the distinction between domestically taxed business income and untaxed foreign-source IBC income.