23 February 2021
The Seychelles Minister for Finance, Economic Planning, and Trade, Naadir Hassan, presented the 2021 Budget before the National Assembly on 16 February 2021. One of the key measures of the Budget is the abolishment of the 0.5% corporate social responsibility (CSR) tax with effect from 1 April 2021, which is levied on taxpayers with an annual turnover of at least SCR 1 million. In addition, the Minister announced government plans to implement standard business tax rates that will apply to all sectors and businesses as follows:
The option of the presumptive tax that is imposed on small and medium entrepreneurs with revenues of less than SCR 1 million per annum will be maintained. No effective date is mentioned, with the Minister only stating that the government plans implement the new rates "very soon". Details on the implementation of the standard rates will be published once available.
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