12.13.09

Trades tax on commercial vehicles to remain unchanged

Posted in Seychelles government, Seychelles legislation at 6:42 pm by Robert Klien

The Seychelles’ Ministry of Finance has announced that the rate of trades tax on commercial and specialised vehicles will remain unchanged in 2010. It will be 25% and 0% respectively, but the tax on buses will be 5%.

When announcing the 2010 Budget Address in the beginning of December, Minister for Finance Danny Faure said that, as from January 1, 2010, rates of trades tax on passenger motor vehicles will be reduced across the board from between 75% and 225% to 25%.

Also, an excise tax will be introduced to offset some of these trades tax reductions.

It should be noted that the decision on taxes is in line with the government’s intention to bring Seychelles’ tax regulations up to international standards.

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