The Seychelles National Assembly has voted in favour of a Goods and Services Tax (GST) which will initially be applied to locally produced goods and services such as beer, cigarettes and soft drinks and will be imposed on other goods, including imported products, at a later date.
According to the Seychelles Nation online news service, Vice President and Minister for Finance James Michel, who presented the Goods and Services Tax Bill to the National Assembly, explained that the bill was developed with the advice of foreign consultants in the light of varying tax and revenue collection systems from around the world in an attempt to discover which would best suit the Seychelles.
The aim of the new tax is to bring the Seychelles into line with international standards and it was decided that the GST would be the most favourable choice because it is a modern system and is implemented in many countries throughout the world.
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