🇸🇨 Seychelles Tax Guide — Income, Corporate & VAT Rates

The tax rates in Seychelles range from 0% to 15% for personal income tax, with a corporate tax rate of 25% and a value-added tax (VAT) rate of 15%.

Tax System Overview

Seychelles operates a territorial taxation system, where only income earned within the country is subject to tax, except for certain types of income such as employment income earned abroad by a Seychelles tax resident. The country's tax system is designed to attract foreign investment and encourage economic growth. To be considered a tax resident in Seychelles, an individual must have a permanent home in the country, or be physically present in the country for at least 183 days in a calendar year.

The Seychelles tax system is relatively straightforward, with a focus on simplicity and ease of compliance. The country has a well-developed tax treaty network, with agreements in place to avoid double taxation and fiscal evasion with 26 countries. This makes it an attractive location for individuals and businesses looking to minimize their tax liabilities. The tax authorities in Seychelles are responsible for administering the tax system, and provide a range of services and support to taxpayers, including online filing and payment facilities.

Personal Income Tax

Corporate & Business Tax

• The corporate tax rate in Seychelles is 25%, which applies to all companies registered in the country, regardless of their size or type.
• Small business incentives are available, including a reduced tax rate of 15% for small businesses with an annual turnover of less than SCR 5 million.
• Seychelles has a number of free zones, which offer a range of tax and other incentives to businesses that operate within them.
• Companies must register with the Seychelles Revenue Commission and obtain a tax identification number before commencing business.
• All companies must file an annual tax return, which must include a set of audited financial statements.

VAT / Sales Tax

• The standard VAT rate in Seychelles is 15%, which applies to most goods and services.
• A reduced VAT rate of 0% applies to certain basic necessities, such as food, healthcare, and education.
• Some goods and services are exempt from VAT, including financial services, insurance, and rent.
• A tourist refund scheme is in place, which allows tourists to claim a refund of VAT paid on certain goods and services.

For Expats & Foreign Workers

• Tax residency rules apply to individuals who are physically present in Seychelles for at least 183 days in a calendar year.
• Seychelles has double taxation treaties in place with 26 countries, which help to avoid double taxation and fiscal evasion.
• Social security contributions are mandatory for all employees, including foreign workers.
• Remittance rules apply to the transfer of funds out of Seychelles, and require prior approval from the Central Bank of Seychelles.
• Foreign workers may be entitled to tax credits in their home country for taxes paid in Seychelles.
• Expats and foreign workers must register with the Seychelles Revenue Commission and obtain a tax identification number.

Crypto & Investment Income

• Investment income, such as dividends, interest, and rental income, is subject to tax in Seychelles.
• Dividends paid by a Seychelles company to a non-resident shareholder are subject to a withholding tax of 15%.
• Cryptocurrency is considered a commodity in Seychelles, and is subject to VAT and other taxes.
• Capital gains tax applies to the disposal of assets, including shares, property, and other investments.