According to the official announcement of the Ministry of Finance, Trade & Investment (MFTI) of Seychelles from 1st January 2013 the value added tax is introduced on the terrirtory of Seychelles, though its implementation was planned on 1st July 2012. To add, the standard rate of the tax equals 15%.
It is important to notice that all business with annual turnover surpassing 5 million rupees (5 million dollars in equivalent) will automatically fall into regime of value added tax.
As it was announced in one of our previous news Seychelles in August 2012 entered into the World Trade Organization (http://hbcomp.co.uk/about/news_and_mailings/news_jurisdictions/3313/?sphrase_id=555) that naturally required from the state mobilization of economic resources and search of new sources for budgetary recharge.
It seems that introduction of the value added tax has become the key to the Government of Seychelles on the way of accumulation of monetary funds.
Julia Akhmetova ( Paralegal of Moscow office company Honest & Bright)
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