SRC ANNOUNCES ITS TAX LODGMENT AND PAYMENT PROGRAM FOR APPLICABLE YEAR 2023

March remains the busiest period for the Seychelles Revenue Commission (SRC). As customary, this is the last month where businesses can lodge and pay their business or presumptive tax ahead of the closure of the annual tax year deadline for 2023 set on 31 March, 2024.

To alleviate the constraints being experienced during this peak time, the SRC will as from Tuesday, 12 March 2024, decentralize its services across various locations on Mahe.

This process will not only facilitate the lodgment of returns and payment taxes for specific group of taxpayers, but, will enable the taxpayers to avoid long queues at SRC offices nearer the deadline and will also further allow taxpayers to meet with the SRC officers who will be onsite respectively should there be any further queries or assistance required.

The lodgment and payment program for the applicable year 2023 aims to increase compliance and encourage businesses to lodge and pay their taxes timely to avoid any penalties.

Note even if a business registered with SRC was not in operation or trading during the year 2023, in line with the applicable laws the business is still required to lodge a ‘NIL’ business or presumptive tax return to SRC at the end of the tax year.

As such, SRC is urging businesses to make use of its lodgment program to commit to their tax obligations and also welcomes new taxpayers at these premises who wishes to register their new business.

SRC is also advising taxpayers that even if the lodgment program is target based, all taxpayers are welcome to also proceed to any of the locations mentioned below within the aforementioned timeframe to pay and lodge their taxes for the applicable year 2023 early to avoid any inconvenience.