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Quick overview of Seychelles business tax

Contributed by ACT Offshore
07 August, 2018


Business tax is levied on the taxable income of a business; i.e., its assessable income less any allowable deductions. Generally, the owners of businesses are liable to pay business tax if their taxable income exceeds Seychelles Rupees (SCR) 150,000 for a particular tax year in respect of sole trader and partnership. Whereas a company is liable to pay business tax on any net profit that it derives. A Seychelles taxation year runs from 1 January to 31 December. However, taxpayers may request to have an alternative tax period apply to their business. The Business Tax rate is 0% on the first SCR 150,000 of taxable income in respect of a sole trader and a partnership business, 15% on the next SCR 850,000 of taxable income and 33% on the remainder. Companies do not have a tax-free threshold. The Business Tax rate is 25% on the first SCR 1,000,000 of taxable income and 33% on the remainder. Note currently 1 United States Dollars is approximately equal to 14 Seychelles Rupees.

Following amendments prompted by OECD’s BEPS only income sourced domestically will be taxable. International Business Companies, Trusts and all other entities will not require any special exemptions but will still not be taxed on income sourced internationally.




 


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