07.26.17

Seychelles to announce SME Tax Cuts in Budget

Posted in Business and Economy, Seychelles government at 7:08 pm by Robert Klien

Government ministers from the Seychelles have met with local businesses to discuss reforming and potentially enhancing the tax incentives for businesses and in particular SMEs.

According to the Government of the Seychelles, the meeting had been held ahead of the release of a 2018 Budget. It said that the Government is investigating ways to harmonize existing tax breaks, including those under the VAT, trade tax, excise tax, business tax, and income tax regimes.

It was indicated that the Government favors lowering taxes for small- and medium-sized firms (SMEs). A reduction to the 15% VAT rate on insurance policies was discussed, in order to make such products more affordable for all, especially for the needs of SMEs.

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