Due to the ongoing tension in the Middle East causing a global impact on supply chain and tourism, the Seychelles Revenue Commission (SRC) has today announced further tax relief measures to ease the financial burden of businesses within the tourism sector.
At present, the SRC is providing a deferral of 3 months on the annual payment of Business and Presumptive Taxes for applicable year 2025 to dedicated businesses within the tourism sector who have lodged their annual returns timely on 31 March 2026, or as per the approved lodgment program, waiving all interests and penalties.
Further tax relief measures to be implemented are as follows:
- Variation on Provisional Tax Installment (PAYG): Businesses can apply for a variation in their 2026 PAYG installments subject to approval upon submission of their revised business financial projections. This request will be processed by SRC within 5 working days.
- Deferred Payment on Income and Non-Monetary Benefit Tax (INMBT): Businesses providing non-monetary benefits to employees such as accommodation, meals, motor vehicles and others as listed in the Income and Non-Monetary Benefits Tax (amendment) Act, 2022 will be granted a 3-month extension on payment of Non-Monetary Benefits Tax without interest and penalties. The extension will be effective from 1 May 2026 for the applicable month April 2026 until 21 July 2026 for applicable month June 2026.
- Settlement of tax arrears: Effective immediately, businesses having an existing payment plan with SRC and had remained compliant to the plan, can come forward to renegotiate a new payment plan. Penalties will not incur for late settlement and all negotiations to restructure the payment plan will be treated on a case-by-case basis where the business demonstrate genuine hardship.
- Processing of refunds: SRC will expedite refunds of taxes within 15 working days should businesses submit their accurate banking details and supporting documents in full. Value Added Tax refund will be prioritized for businesses within the tourism supply chain.
- Customs Measures: SRC is encouraging importers to open a pre-payment account with the Customs Division to expedite clearance of essential goods.
Businesses eligible to apply for the aforementioned benefits are as follows:
- Hotels, guest houses, self-catering establishments;
- Cafés or restaurants;
- Fixed or rotary wing passenger air transport services;
- Domestic ferry services for the transport of freight or passengers;
- Boat or yacht charterers (including live-aboard);
- Car hire operators;
- Underwater diver operators or dive centers;
- Water sports operators;
- Travel agents;
- Tour operators;
- Tour and or tourist guides;
- Equestrian operators;
- Souvenir shops
- Bicycle hirers
Businesses are being requested to download the ‘Tax Relief Application Form’ available on www.src.gov.sc and submit the completed form via email at assistance@src.gov.sc to be assisted. Physical copy of the forms will also be accessible at SRC offices located on Mahe, Praslin and La Digue.
For more information and guidance, please contact advisory.center@src.gov.sc or phone 4293737.