Seychelles: Domestic Corporate Taxation
Corporate Taxation Introduction
The Seychelles has a territorial basis of taxation: that is, profits are only taxed if they are derived or deemed to be derived from a source in the Seychelles. There is no capital gains tax; nor are interest, dividends and other payments received from abroad taxed. A withholding tax on individual income from employment was introduced in July 2010. Ongoing government policy is to broaden the application of the income tax to other sources of domestic-sourced income, for example, dividends and interest on savings.
Discussions between the government and the International Monetary Fund in July and September 2008 culminated in the abolition of all exchange restrictions and prompted a tightening of fiscal policy and a broadening of the tax base.