• Seychelles introduces VAT from 1 January 2013


    VAT will take effect in Seychelles as of 1 January 2013 and will replace the Goods and Services Tax (GST) which has been in existence since 2001.

    The Offtax team has gathered the main features of the Seychelles VAT system:

    • Registration threshold - Registration to the VAT is compulsory if a business has actual or expected annual sales turnover in excess of SR 5,000,000. Voluntary registration is also possible.

    • VAT return - VAT returns must submitted monthly or quarterly.

    • VAT payment - VAT liability must be paid by the 21st day after the end of the VAT return submission deadline.

    • Standard VAT rate - The standard VAT rate will be 15%.

    • Reduced VAT rate - Some supplies are subject to 0% VAT.

    • Zero-rated Supplies - All exports, goods sold in a duty free shop, services provided by a CSL company.

    • Exempt Supplies - education courses, course materials and related excursions or field trips for licensed education institutions, medical, health and care services for licensed medical providers, childcare service provided by a licensed provider, religious services and charitable activities by a registered body, penalty interest, sales of private property, imports of sugar, rice, milk, meat, vegetables, fruits, lentils, salts and electric bulbs, imports of goods for consumable stores for use outside Seychelles, imports of goods to be used in the process of conservation. This list is not exhaustive.

    • Record keeping - all VAT invoices and other VAT records must be kept for 7 years.
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