CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Seychelles Approves Tax Law Changes

Seychelles Approves Tax Law Changes

by Lorys Charalambous, Tax-News.com, Cyprus

01 January 2018


At an extraordinary meeting of the Seychelles Cabinet in December, a number of legal and tax policy proposals were approved, continuing the jurisdiction's progress in reforming its tax regime and bolstering its economy.

According to a Ministry of Finance statement released following the meeting: "Cabinet approved policies relating to the Progressive Income Tax Law. The aim of these policies are to simplify income tax collection. Cabinet also approved the amendment to the Excise Tax Bill. The amendments would harmonize the categories of business and persons entitled to fuel concessions under the Excise Tax Act 2009."

Administrative changes were also approved to the Seychelles Revenue Commission Act and the Customs Management Bill to allow for the renaming of certain posts, and to allow for the creation of a Revenue Commission Board.

Then, on December 13, the Executive Board of the International Monetary Fund (IMF) approved a new Policy Coordination Instrument (PCI) for Seychelles. The three-year arrangement with the IMF will allow the Government of the Seychelles to receive intensive support with regard to developing and implementing pro-growth economic policies.

In a previous review of the economy, concluded in October 2017, the IMF had observed that while the Seychelles has made "remarkable progress" on strengthening its economy and finances, it "...still faces vulnerabilities and pressures, as a small island economy in a challenging global economic environment."

TAGS: Finance | tax | business | law | International Monetary Fund (IMF) | legislation | Seychelles | Tax

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 











Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »