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Seychelles Expected To Announce SME Tax Cuts In Budget

by Lorys Charalambous, Tax-News.com, Cyprus

21 July 2017


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.

The Government said the meeting had been held ahead of the release of a 2018 Budget. It said that it is investigating how 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. A reduction to the 15 percent VAT rate on insurance policies was reportedly under discussion, with a view to making such products more affordable for all, but with a special emphasis on the needs of SMEs.

TAGS: VAT rates | VAT special schemes | tax | business | tax incentives | insurance | budget | tax breaks | Seychelles | Tax

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