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Seychelles: Domestic Corporate Taxation

Scope of Business Tax

The Business Tax Acts 1987 and 2009 as amended govern company taxation in the Seychelles. The 1987 Act states that resident, non-resident corporate and non-corporate businesses are liable to pay business tax on their income derived from the Seychelles. A company is considered resident if it is incorporated in the Seychelles. A company not incorporated in the Seychelles that conducts business there is deemed resident if its central management is located in the Seychelles or if its voting power is controlled by shareholders who reside there.

Income is defined as all income received by a sole trader, partnership, trust estate or company, less a number of types of exempted income of which the following are some of the main headings:

  • the proceeds of rental properties other than dwellings
  • profits from dealing in or selling property
  • royalties
  • fees and commissions in respect of the sale of property or the processing of money loans
  • lease premiums
  • income on which a final withholding tax has been levied (see Withholding Tax below - the 10% and 40% rates are considered to be 'final').

 

 

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