Seychelles Tax Overview

The Seychelles tax system at a glance

Seychelles taxes income through the Income and Non-Monetary Benefits Tax (employment) and Business Tax (businesses), with a 15% VAT. The tax authority is the Seychelles Revenue Commission (SRC) and the currency is the Seychelles Rupee (SCR).

• Tax year — Calendar year, 1 January to 31 December (Business Tax Act)
• Currency — Seychelles Rupee (SCR) (Seychelles Revenue Commission)
• Tax authority — Seychelles Revenue Commission (SRC) (Seychelles Revenue Commission Act)
• Personal residence basis of taxation — Residents taxed on worldwide income; non-residents taxed only on Seychelles-sourced income (approx — confirm) (approx — confirm) (Income and Non-Monetary Benefits Tax Act)
• Headline personal income tax rates — Progressive 0% to 30% (monthly bands); non-citizens have no tax-free band (Income and Non-Monetary Benefits Tax Act)
• Headline business (corporate) tax rates — 15% on first SCR 1,000,000 of taxable income; 25% above SCR 1,000,000 (Business Tax Act)
• Does Seychelles have VAT/GST? — Yes — Value Added Tax (VAT) at a standard rate of 15% (Value Added Tax Act)
• Main employment-tax remittance deadline — Income tax withheld remitted to SRC within 21 days of the following month via the Business Activity Statement (BAS) (Income and Non-Monetary Benefits Tax Act)
• Annual business tax return deadline — 31 March of the year following the tax year (Business Tax Act)
• VAT return filing — Monthly, within 21 days after the end of the reporting month (Value Added Tax Act)