Regulatory Alerts2005-01-01
International Corporate Service Providers (Amendment of Schedule) Regulations, 2005
The Minister of Economic Planning and Employment issued these 2005 regulations to amend Schedule 2 of the International Corporate Service Providers Act. The amendment repeals the existing paragraph and substitutes a new provision that exempts licensees from Goods and Services Tax on payments received for authorized activities. This tax exemption also extends to goods imported into Seychelles that are used exclusively by the licensee in carrying out those licensed activities.
[14th March 2005] Supplement to Official Gazette 177
S.I. 14 of 2005
INTERNATIONAL CORPORATE SERVICE PROVIDERS ACT
International Corporate Service Providers (Amendment of Schedule) Regulations, 2005
In exercise of the powers conferred by section 22 of the International Corporate Service Providers Act, the Minister of Economic Planning and Employment hereby makes the following Regulations—
1. These Regulations may be cited as the International Corporate Service Providers (Amendment of Schedule) Regulations, 2005.
2. The International Corporate Service Providers Act is hereby amended in Schedule 2 by repealing paragraph 3 and substituting therefor the following paragraph—
"(3) Payments received by the licensee in respect of the activities authorised under the licence and goods imported into Seychelles by the licensee solely for use by the licensee in the activities authorised under the licence shall be exempt from Goods and Services Tax."
MADE this 7th day of March, 2005.
JACQUELIN DUGASSE MINISTER OF ECONOMIC PLANNING AND EMPLOYMENT
Citation
Amendment of Schedule 2