22 May 2018
The Seychelles Revenue Commission has issued a notice on the introduction of a new progressive individual income tax effective 1 June 2018. The system being replaced includes a flat rate of 15%, which is a final withholding tax for non-resident individuals. Under the new system the rates are based on monthly income as follows for resident individuals:
For non-resident individuals, the rates are:
New payroll forms have been designed for the new tax system, which employers must lodge within 21 days after each month along with their monthly Business Activity Statement. Employee status reports must also be lodged on 21 July and 21 January of each year.
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