Seychelles Tax Authority (SRC): Filing & Compliance

Meet the Seychelles Revenue Commission (SRC): The Country's Tax AuthorityCopy link to section

The tax authority in Seychelles is the Seychelles Revenue Commission (SRC), the statutory body that administers the country's revenue laws and collects tax on behalf of the government. It began operating on 1 January 2010 and reports under the Ministry of Finance, National Planning and Trade while functioning as an independent authority.

For a foreign owner of a Seychelles company, the SRC is the single agency you deal with for taxpayer registration, filing, payment, and any audit or dispute. This article explains who the SRC is, what it administers, how you register and file, the deadlines that apply, and the powers it holds when something goes wrong.

It is most relevant to non-resident investors and their advisers running or planning a Seychelles entity that has, or may acquire, a local tax footprint.

The SRC's Legal Mandate and What Taxes It AdministersCopy link to section

The SRC was created by merging the former Department of Customs and the Department of Inland Revenue, bringing tax and border duties under one roof. Its enabling statutes are the Seychelles Revenue Commission Act 2009 and the Revenue Administration Act 2009, the latter setting the procedural rules for how tax is assessed and collected.

A Commissioner General holds overall responsibility for administering revenue laws and advising the government on revenue policy. A Governing Board of eight members, including the Commissioner General as an ex-officio member, was first appointed in March 2018; the organisation runs through three divisions covering Domestic Tax, Customs, and Support Services.

The revenue lines under the SRC's control span direct and indirect taxes as well as border duties.

Seychelles has long applied a territorial system, taxing only income arising from activities, assets, or rights inside the country. From 16 September 2021 a revised approach took effect for covered companies, adding an economic substance test for passive income received from a non-resident.

The SRC also serves as competent authority for the country's international tax obligations, including the Common Reporting Standard and country-by-country reporting. Subordinate instruments give effect to these commitments, with later additions such as the Electronic Filing of Documents Regulations 2025 (SI 65 of 2025) updating the framework.

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Registering as a Taxpayer with the SRCCopy link to section

Any new business operating in Seychelles must register with the SRC within 28 days of starting to trade. This obligation rests on every entity, and missing it is not a minor lapse.

Registration produces a Taxpayer Identification Number (TIN), a 9-digit identifier issued to individuals and entities alike, normally within 24 hours of a completed application. The TIN doubles as your VAT number, so no separate VAT registration number is issued.

You will need a copy of the business licence from the Seychelles Licensing Authority or the Financial Services Authority, plus the company or partnership registration certificate from the Registrar of Companies. Registration can be completed online through the SRC website or in person at an SRC office.

If you take on staff, every employee must be registered within 7 days of employment.

VAT registration thresholds matter for planning. Voluntary VAT registration applies to businesses making taxable supplies below SCR 2,000,000; effective 1 January 2025, the floor for voluntary registration sits at SCR 100,000.

E-Services and Online Filing PortalsCopy link to section

The SRC routes business registration and related processes through its Tax Management System (TMS), reached from the SRC website. Individuals can also apply for a TIN online, and a TIN lookup tool lets you confirm whether a number is valid.

Electronic filing gained a formal legal footing with SI 65 of 2025, which set out the rules for lodging documents with the SRC electronically. The periodic filing document is the Business Activity Statement (BAS), downloadable from the SRC site and submitted by the 21st of the month following the reporting period, together with payment.

For payments made by bank transfer, proof of payment must be emailed to the SRC's dedicated bank transfer address. Public rulings issued by the Commissioner General are published online for tax professionals and other affected persons.

One point to verify directly: published material does not fully confirm whether TMS supports electronic filing of every tax type or only registration and selected processes. Treat the portal's exact scope as something to check with the SRC before relying on it for a specific return.

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Filing and Payment Calendar: Deadlines You Need to KnowCopy link to section

Business Tax returns are due no later than 31 March of each tax year, a three-month window after year-end set by the Business Tax Act 2009. A return must be filed even where there is no liability or where the business made a loss.

For VAT, Income and Non-Monetary Benefits Tax, Excise Tax, and withholding tax, the BAS and payment fall due on the 21st day of the month following the reporting period. Accommodation Turnover Tax follows the same monthly rhythm, paid on the 21st using its own return form.

Businesses under the Presumptive Tax regime file a simplified one-page return and pay by 31 March each year. A Pay As You Earn scheme introduced in 2022 lets presumptive taxpayers pay as income comes in, easing the year-end burden.

Records must be kept for at least 7 years, in English, French, or Creole, covering books, ledgers, receipts, asset registers, and banking records.

Where a tax debt cannot be paid at once, instalment arrangements are available under the Revenue Administration Act 2009.

• New debts: settle within 1 to 3 months
• Debts at enforcement stage: within 6 months
• Debts above SCR 1 million: require approval and settlement within 12 months

Assessment and Self-Assessment ProceduresCopy link to section

Seychelles has run a self-assessment regime since 2010, built around voluntary compliance. The responsibility sits with you, not the SRC, to work out whether your entity has Seychelles-sourced income, apply the permitted deductions and exemptions, and file accordingly.

The SRC does not calculate the tax for you. The BAS is the standard form for reporting Income and Non-Monetary Benefits Tax, Excise Tax, Pay As You Go Business Tax, and VAT-related data.

Non-resident payments deserve particular attention. Under the Business Tax Act, a withholding tax applies to the gross amount of interest, dividends, royalties, technical and managerial service fees, and natural resource payments paid to a non-resident from Seychelles sources, with the resident payer obliged to withhold and remit through the BAS.

For certainty on a planned transaction, you can request a private ruling, a written statement from the Commissioner General on how a revenue law applies. Such a ruling binds the Commissioner General provided you made full and true disclosure and carried out the transaction as described.

Approved refunds are credited to the taxpayer's account within 10 working days.

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Audit, Investigation and Information-Gathering PowersCopy link to section

The SRC's authority to examine taxpayers flows from the Revenue Administration Act 2009, with a Legal Unit handling revenue law offences, debt recovery prosecutions, and rulings. Before conducting an audit, the SRC must give the taxpayer at least 5 working days' notice.

Audit duration depends on the issue and the category of business; service standards by category appear on the SRC's About Us page, though specific timeframes are not listed in summary form. Because authorities may request accounting records and financial summaries at any time, keeping those records on-site, current, and within the 7-year retention rule is a practical necessity for any foreign-owned entity.

The International Tax Unit handles exchange of information with other competent authorities and the allocation of taxing rights under treaties. A Voluntary Disclosure Programme allows taxpayers to correct errors or irregularities before the SRC raises them.

Enforcement of economic substance requirements is shared between the SRC and the Financial Services Authority, so a covered company may answer to both.

Penalties, Interest and Enforcement MeasuresCopy link to section

Late submission of the return and payment slip brings additional penalties, interest, and charges. Failure to register a business in time is a criminal offence carrying up to one year's imprisonment, a fine of SCR 50,000, or both.

Accounting-record obligations for International Business Companies carry their own exposure. Under the International Business Companies (Amendment) Act 2025, failing to keep accounting records at the registered office can attract fines of up to US$10,000, with penalties for breaches ranging from US$2,000 to US$10,000.

Missing the deadline to file the Annual Financial Summary within six months of financial year-end may trigger further fines or legal action. Where debt recovery is under way, the SRC may permit payment by instalment under the Revenue Administration Act, though immediate payment is preferred and instalments are offered only where genuinely negotiable.

Prosecution is not theoretical. As at 31 August 2021, five cases had been referred to the SRC's Prosecution Unit, three of which had already received a court ruling.

Specific late-payment interest rates and penalty percentages are set out in the Revenue Administration Act 2009 and its amendments but are not reproduced on the SRC's public summary pages; confirm the applicable figures against the Act or with the SRC directly before relying on an estimate.

Objections, Appeals and Dispute Resolution with the SRCCopy link to section

If you disagree with an assessment, the objection process runs under the Revenue Administration Act 2009, with the form and fees prescribed by SI 71 of 2013. The SRC's published service standards set out how long a decision should take.

Some matters cannot be objected to: you cannot object to a public ruling, and you cannot object to general guidance itself, though you may object to the advice it contains once published. A private ruling is withdrawn, in whole or in part, only by written notice to the taxpayer.

The formal route beyond an SRC objection decision, meaning the specific tribunal or court that hears appeals, is not set out on the SRC's public pages. The Revenue Administration Act 2009 is the governing instrument; confirm the appellate body against the full Act text or with local counsel before lodging an appeal.

Contacting the SRC: Offices and Communication ChannelsCopy link to section

The SRC is headquartered at Maison Collet in Victoria, which houses both the headquarters and the Tax Division. An Advisory Centre on the second floor of the same building handles general tax and customs queries on weekdays from 08:00 to 16:00, reachable on (+248) 4293737.

Beyond the Mahe headquarters, the SRC runs two offices on Praslin, one on La Digue, and two Mahe service counters at Providence and Anse Royale. The Customs Division operates from the Seychelles Post Office in Victoria, Seaport Operations on Latanier Road, and Sunshine House in Providence.

The agency issues certificates to residents and non-residents on request and delivers tax and customs education sessions to businesses. Email enquiries and private ruling requests are acknowledged the same day where all required information is supplied.

For specific tasks, the SRC publishes dedicated addresses on its website: a refund mailbox for refund claims submitted with your TIN, trading name, payment dates, and supporting documents, and a separate mailbox for proof of bank transfer payments.

ConclusionCopy link to section

The SRC is the one authority that matters for tax registration, filing, payment, and disputes for any company operating in Seychelles. A foreign owner's core duties are straightforward in principle: register within 28 days, obtain and use the TIN, file on a self-assessment basis, meet the 31 March and monthly-21st deadlines, and keep records for seven years. The system is enforced, with criminal penalties for non-registration and active prosecution, so the practical task is staying current rather than catching up. Where penalty rates or the appellate route are not published in summary, confirm the detail against the underlying Act or with the authority before you act.

How Expanship Can Help Your Business in SeychellesCopy link to section

Expanship supports foreign-owned entities in meeting their obligations to the SRC, from securing a TIN and handling registration to managing periodic BAS filings and Business Tax returns. The same team covers the wider set of needs that come with running a company in the jurisdiction.

• Company incorporation and Registrar filings
• Registered agent and registered office services
• Tax registration with the SRC and ongoing return filing
• Compliance management, including economic substance and record-keeping
• Accounting and bookkeeping aligned to the seven-year retention rule
• Banking introductions for new and existing entities

To discuss your requirements, contact Expanship Seychelles.

Frequently Asked QuestionsCopy link to section