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.
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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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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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.
Learn moreLocations 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.
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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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.
Learn moreHow to register your business with SRC
New businesses must register with the Seychelles Revenue Commission (SRC) within 14 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.