Over the years, we have helped a number of multinationals, offshore and domestic companies in meeting their tax requirements in Seychelles.
In Seychelles, the taxation of individuals is governed by the Income and Non-Monetary Benefits Tax Act 2010. An employee is taxed at the rate of 15% on his emoluments and 20% on his non-monetary benefits. The employer withholds the tax at source and remits to the Seychelles Revenue Commission within 21 days after the end of the month in which the tax was withheld. The tax withheld is deemed to be the final tax on the emoluments of the employee.
Effective as from 29 December 2022, non-monetary benefits (for example accommodation and utilities etc) provided to an employee will be taxed at the rate of 15% instead of 20%. The tax will be calculated on the actual cost or taxable value of the non-monetary benefits. Previously, the non-monetary benefits were taxed on their fair market value. Further, meal allowances provided by the employer to the employees are now fully exempt from tax.
Also, where an employee receives emoluments in arrears, the employer should deduct income tax on the emoluments in the month in which those emoluments were due to the employee.
Senior Manager - Tax
Mobile: +230 5 474 1778 / Office: +230 404 5039
Shafeenaz will be your direct point of contact for any tax services you require in Seychelles.
Shafeenaz joined PwC in 2008. Besides providing advisory and compliance services to a broad range of clients, Shafeenaz specialises in providing assistance to clients on tax investigations. She drives the Seychelles tax desk and has been working with businesses in Seychelles to help them unravel a range of tax issues involving both planning and compliance.
She also leads the Learning & Development programme for PwC Mauritius which include both staff and client tax technical training.