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Seychelles: Domestic Corporate Taxation

Corporate Taxation Introduction

The Seychelles has a territorial basis of taxation; that is, profits are taxed only if they are derived or deemed to be derived from a source in the Seychelles. There is no capital gains tax; interest, dividends and other payments received from abroad are likewise not taxed. A withholding tax on individual emoluments from employment was introduced in July, 2010. 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) once the PIT becomes established and the new system has been assessed.

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.

Special rules apply to offshore entities and Special License Companies



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