Seychelles introduces 15% VAT Jan 2013
- European News
- 21 December 2012 | Richard Asquith
The Seychelles is to introduce Value Added Tax regime at 15% from 2013.
The latest Budget Act has been introduced will bring in VAT on tax-registered businesses with a turnover above SR 5 million per annum. There is a provision for companies or tax-registered individuals below this threshold to VAT register on a voluntary basis.
Most basic foodstuffs will be exempt from the new tax.