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Seychelles Extends Reach Of Tourism Marketing Tax

by Mary Swire, Tax-News.com, Hong Kong

30 March 2017

In a statement published on March 16, the Seychelles Revenue Commission announced the extension of the Tourism Marketing Tax (TMT) to casino operators and Class 1 building contractors (with annual turnover in excess of SCR1m (USD74,271)).

The TMT is currently payable at a rate of 0.50 percent on monthly turnover. In addition to the newly announced categories of business to face the TMT with effect from March 1, the following types of businesses are subject to the tax: hotels and guest houses, cafes and restaurants, air and ferry transportation services, car hire operators, boat or yacht charterers, dive center and water sports operators, tour operators, travel agents, and equestrian operators.

Additionally, all banks, insurance firms (with the exeception of insurance brokers) and telecommunications service providers are subject to the levy, which was first introduced by the Tourism Marketing Tax Act, 2013.

TAGS: tax | business | financial services | insurance | travel and tourism | gambling | contractors | construction | Seychelles | services | Tax

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