Seychelles: Personal Taxation
The only significant tax bearing on individuals is the Income & Non-Monetary Benefit Income Tax which replaced the social security tax in July, 2010; there is no capital gains, gift, property or estate taxes. Foreign-source income is untaxed. There are import duties on many items and there is a goods and services tax, which was set to be replaced in 2012 by a value-added tax at a rate of 15%. Introduction of the VAT was postponed until 1 January 2013.