The Seychelles Revenue Commission (SRC) has since Friday, 8 March 2024, met with a group of registered tax agents and accountants in a forum, as part of its strategy to provide a communication platform between the tax agents, accountants and the Commission.
The session which started with the Commissioner of Tax, Ms. Gayathri Chetty delivering the opening remarks was then followed by a range of presentations by key members of the SRC’s management team comprising of members of the compliance and policy department, taxpayers education and service delivery, enforcement, legal and audit.
The presentations focused on various topics related to taxation, also covered the newly introduced return forms and payment slip replacing the business activity statement, proposals being worked on to amend certain laws, process to obtain the tax clearance certificate and application timeline, the new payroll template, phasing out of the e-service platform for January 2024 transactions, audit procedures including the procedure for objection, appeal and provision of advice, amongst others.
Participants at the forum also had the opportunity to attend a brief presentation on new regulations related to transfer pricing related party dealing schedule, where it was thus announced that businesses with such obligation will now lodge their related party dealing schedule before or on 31 March 2025 for the applicable year 2024, rather than the 2023 tax year, to provide taxpayers and their advisors additional time to complete this new obligation accurately.
The forum held at the Docklands auditorium over half-day also provided the platform for further discussions of which various topics were addressed such as the activation of SRC’s online tax portal, further enhancement of the SRC website, increased engagement with tax agents especially when cases have been routed to legal and eventually the attorney general’s office, laws related to international tax concerning the element of substance amongst others.
Towards the end of the forum, the tax agents and accountants had the chance to obtain added clarifications and meet with key members of the management staff on a one-to-one basis, including representatives of the Ministry of Finance, National Planning, Finance and Trade who were also present at the event.
SRC wishes to thank all the tax agents and accountants for their active participation at the forum and counts on their continued support for maintaining the ongoing engagement with their clients in providing the latest information related to changes within the tax laws and processes taking place at SRC.