Regulatory Alerts2023-12-27
Substantial Activity Requirements Guidelines
The Seychelles Financial Services Authority mandates that licensees under the Securities and Mutual Fund Acts meet substantial activity requirements to qualify for preferential tax rates. Licensees must demonstrate adequate full-time resident employees and commensurate operating expenditures conducting core income-generating activities locally, with allowances for supervised third-party outsourcing and foreign front-office operations. To claim these rates, licensees must obtain the Authority’s written confirmation by January 31 of the following year and attach it to their annual tax return, or face the general business tax rate.
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