Following a review on the concessions available to licensed cargo ferry vessels held late last year, the Inland Revenue Unit of the Customs Division of the Seychelles Revenue Commission (SRC) is encouraging all licensed cargo ferry vessel to claim the concession being provided on fuel consumption which has now been extended throughout the year 2024.
The concession of 25% on the applicable rate of excise tax for fuel consumption available to licensed cargo ferry vessels transporting cargo by sea between inner islands, must be claimed within 10 working days following the applicable month for the claim. For example, claims for the month of January 2024, must be submitted to SRC by 10th February, 2024.
This great benefit which aims to reduce transportation fees on cargo carried between islands by sea, also intends to eventually lower the prices of goods being sold across the inner islands.
In adherence to the refund procedures, upon claiming the concession, the operator of the licensed cargo ferry vessel must submit a refund application form to the Customs Refund Unit via email to src-inland-revenue-refund@src.gov.sc or by calling 2823111.
Supporting documents comprising of valid stamped receipts of fuel purchased (in full) from SEYPEC fuel meter only, and certified log book detailing the frequency of trips conducted from start to finish must also be submitted along with the application form using the email stated above or delivered in person at the Customs Refund Unit located at Unity House, Block A, Room 215, Victoria.
The refund application form is available at www.src.gov.sc and the refund process will be based on the quota of three (3) return trips conducted, per week, per licensed vessel, information outlined in the log book as proof, the stamped receipts provided.
As all refund will be processed via bank transfer, operators of the licensed cargo ferry vessel are advised to provide the correct bank account details on the refund form for the refund to be initiated timely.
The Inland Revenue Unit will in the coming weeks organize to meet with the operators of the licensed cargo ferry vessel to provide more information on the refund process and clarity on the concession being provided.