Regulatory Alerts2022-01-01
Circular No. 1 of 2022 - Removal of Business Tax Concessions
The Financial Services Authority issued Circular No. 1 of 2022 to implement statutory amendments repealing key tax concession items from the Business Tax Act. Effective January 1, 2022, standard business tax rates now apply to Seychelles Securities Exchange-listed companies, casino operators, and International Corporate Service Providers. Accordingly, ICSPs must settle all tax liabilities directly with the Seychelles Revenue Commission instead of remitting them to the FSA, while related regulations undergo corresponding legislative review.
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