SRC AND PARTNERS TO HOST EDUCATIVE WORKSHOP WITH INNER ISLAND RETAILERS AND WHOLESALERS

May 21, 2024

SRC AND PARTNERS TO HOST EDUCATIVE WORKSHOP...

The Seychelles Revenue Commission (SRC) and partners will on Thursday, 23 May 2024, host an educative session targeting businesses engaged in the retail and wholesale activity on Praslin and La Digue.The session set to be held at the Bahai Centre in Baie Saint Anne will also see the participation of key partners including the Fair Trading Commission (FTC), Seychelles Licensing....

BUSINESSES TO RECEIVE ADDED BENEFITS ON LOW VALUE COMMERCIAL CONSIGNMENTS IMPORTED THROUGH POST AND COURIER

May 15, 2024

BUSINESSES TO RECEIVE ADDED BENEFITS ON LOW...

Following the publication of S.I 33 of 2024 of the Value Added Tax (Amendment of First Schedule) Regulation 2024, businesses importing commercial goods into the Seychelles through postal and courier services shall be exempted from payment of Value Added Tax (VAT) if the customs value or the Cost, Insurance and Freight (CIF) value; that is the actual value of the goods....

CHANGES MADE TO FINANCIAL LAWS (AMENDMENT) ACT, 2023 (ACT 26 OF 2023)

April 29, 2024

CHANGES MADE TO FINANCIAL LAWS (AMENDMENT)...

As a result of changes made to the Financial Laws (Amendment) Act, 2023 (Act 26 of 2023) in December 2023, the Seychelles Revenue Commission is herewith providing guidance on the amendments made to the laws related to revenues from the business tax act 2009, value added tax, 2010, tourism marketing tax, 2013 and the accommodation turnover tax, 2022 as follows: Business....

SRC HIGHLIGHTS CHANGES MADE TO INCOME AND NON-MONETARY BENEFITS TAX (PAYROLL) REGULATIONS, 2024

April 2, 2024

SRC HIGHLIGHTS CHANGES MADE TO INCOME AND...

In exercise of the powers conferred by section 19(1) of the Income and Non-Monetary Benefits Tax Act (Cap 273) the Minister of Finance, National Planning and Trade makes the following regulations.In line with S.I. 19 of 2024, businesses with employees must now use and submit the payroll withholding statement, simplified payroll withholding statement or the domestic worker....

NEARING TAX DEADLINE, SRC ADJUST ITS OPENING HOURS AND EXPANDS PAYMENT POINTS

March 20, 2024

NEARING TAX DEADLINE, SRC ADJUST ITS OPENING...

Nearing the tax deadline of the 31 March 2024, the Seychelles Revenue Commission (SRC) has today announced that effective 25 March until 28 March 2024, the Commission will open its doors at Maison Collet Head Office for lodgment and payment of taxes from 8am up to 3pm. The early opening hours set, is in view of the tax deadline which is fast approaching, and the upcoming....

Income and Non-Monetary Benefits Tax

The Income and Non-Monetary Benefits Tax was introduced in December 2017. Income Tax is defined ‎as the tax levied on personal emoluments of an individual payable by employees or their employer. ‎Non-Monetary Benefits Tax is the tax payable by the employer on any benefit provided to an ‎employed person (an employee) for example accommodation, meals, transport, insurance and others ‎as listed in the Fourth Schedule of the Income and Non-Monetary Benefits Tax Act 2010.

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Income and Non-Monetary Benefits

The Income and Non- Monetary Tax Act came into operation in July 2010 to provide for taxation of ‎income and non-monetary benefits and for connected matters.‎

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Income Tax

In June 2018, a number of changes were effected to the rates and calculation of income tax. A ‎progressive regime was introduced with an increase in the tax free threshold.‎

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Non-Monetary Benefits Tax

As from 1 January 2023, an employer shall be liable to pay tax at the rate of 15% reduced from 20% on ‎the value of a non-monetary benefit.‎‎

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Locations and Services

We offer a wide range of services at our offices located across Mahe, Praslin and La Digue. For general ‎tax and customs related queries or to better understand your rights and obligations towards the ‎Seychelles Revenue Commission, visit our Advisory Center located on second floor of Maison Colet in ‎Victoria, contact us via email at advisory.center@src.gov.sc or call us on 4293737 to be assisted by our ‎Provision of Advice Officers. The Advisory Centre is open on weekdays between 8am to 4pm including ‎lunchtime.‎

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Tax Division

Maison Collet, houses the Headquarters and Tax Division of the Seychelles Revenue ‎Commission. To ‎enhance customer experience, the Commission also ‎has two offices on Praslin, one office on La Digue ‎and two service counters on Mahe (‎Providence and Anse Royale).‎

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Customs Division

The offices of the Seychelles Revenue Commission Customs Division are located at the Seychelles Post ‎Office in Victoria, at Seaport Operations in Latanier Road, at Sunshine House in Providence and at the ‎Airport Cargo Terminal in Pointe Larue.‎

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Other Services ‎

The Seychelles Revenue Commission also offers a range of certificates to ‎businesses and individuals, ‎both residents and non-residents of Seychelles upon request in addition to delivering dedicated ‎sessions to entities to further ‎enhance tax and customs knowledge.‎‎‎‎

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How to register your business with SRC

New businesses must register with the Seychelles Revenue Commission (SRC) within 28 days of ‎trading.
For new businesses with employees, the business must also register all of its employees within 7 days ‎of employment.‎

‎Documents required for registration

The following documents are required to successfully complete the registration process:‎

  • National identification card or passport.‎
  • Copy of business license as applicable issued by respective authorities (e.g. Seychelles ‎Licensing Authority, Financial Services Authority Seychelles …etc.)‎
  • Copy of partnership or company registration certificate as issued by the Registrar of ‎Companies.‎
  • Details of Tax Agent (if applicable).‎

Business registration process

The Seychelles Revenue Commission (SRC) will carefully review all applications along with supporting ‎documents and will allocate a taxpayer identification number (TIN) to a business within 24 hours ‎should the business complete the registration process successfully.

To register your business please click here.‎