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SC Tax 2024

iCalculator™ SC: Seychelles Tax Calculators

Welcome to iCalculator™ SC, your comprehensive suite of free tax calculators for Seychelles. iCalculator™ has provided free tax calculators for Seychelles since 2019. Since those early days we have extended our resources for Seychelles to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Seychelles Tax Calculator and salary calculators within our Seychelles tax section are based on the latest tax rates published by the Tax Administration in Seychelles. In this dedicated Tax Portal for Seychelles you can access:

Seychelles Tax Calculator 2024/25

The Seychelles Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Seychelles. This includes calculations for

  1. Employees in Seychelles to calculate their annual salary after tax.
  2. Employers to calculate their cost of employment for their employees in Seychelles.
Seychelles Tax Calculator 2024
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Advanced Seychelles Salary Calculator 2024
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Discover the Seychelles

Seychelles, an archipelago of 115 islands in the Indian Ocean, is located northeast of Madagascar and about 1,600 kilometers east of mainland Africa. This idyllic island nation is known for its pristine beaches, coral reefs, nature reserves, and rare wildlife, making it a paradise for nature lovers and tourists alike.

Seychelles is bordered by the vast Indian Ocean, with its closest neighbors being Madagascar to the southwest, Comoros to the south, and Mozambique on the African mainland to the west. Despite its geographical isolation, Seychelles maintains strong cultural and economic ties with African and Asian countries.

The culture of Seychelles is a vibrant tapestry woven from African, French, British, Indian, and Chinese influences, reflecting the diverse heritage of its population. Creole (Seselwa), English, and French are the official languages, embodying the nation's multicultural identity. Seychelles celebrates its diversity through music, dance, and festivals, with the Seychellois Creole cuisine offering a delightful fusion of flavors from its varied cultural roots.

The economy of Seychelles is characterized by its high gross domestic product (GDP) per capita, making it one of the most prosperous countries in Africa. Traditionally reliant on fishing and agriculture, the economy has diversified into tourism, which now serves as the backbone of its economic growth, along with other sectors like offshore banking, business services, and fishing.

Tourism is the primary driver of Seychelles' economy, attracting visitors to its luxurious resorts, stunning natural landscapes, and protected marine parks. The government actively promotes sustainable tourism practices to preserve the islands' ecological integrity while fostering economic development.

Fishing, particularly tuna fishing, is another significant economic activity, with Seychelles' Exclusive Economic Zone (EEZ) being rich in marine resources. The country is a leading exporter of canned tuna to the European market, supporting its trade balance.

Seychelles has developed a robust offshore financial sector, offering banking, insurance, and other financial services. The sector benefits from the country's stable political environment, favorable tax regime, and modern legal framework, attracting international investment.

In conclusion, Seychelles stands as a testament to successful economic diversification and sustainable development, harmonizing its economic ambitions with the preservation of its cultural heritage and natural beauty. The nation's commitment to environmental conservation and sustainable tourism continues to guide its path toward a prosperous future.

Tax Overview of the Seychelles

The Republic of Seychelles has implemented a progressive and streamlined taxation system aimed at promoting economic growth while ensuring the equitable distribution of tax obligations. This system encompasses various types of taxes on individuals and businesses, designed to fund public services and infrastructure development efficiently. Here's a closer look at the key components of Seychelles' taxation framework.

Personal Income Tax

While Seychelles does not impose a traditional personal income tax, residents are subject to a progressive Pay-As-You-Earn (PAYE) system on their employment income. This system ensures that the tax rate increases with the individual's income level, allowing for a fair contribution based on earning capacity.

Corporate Tax

Businesses operating in Seychelles are subject to corporate tax on their profits. The Seychelles' corporate tax structure is designed to encourage investment and entrepreneurship within the country, with special provisions and incentives available for certain sectors and activities.

Value-Added Tax (VAT)

Value-Added Tax (VAT) is applied to most goods and services in Seychelles, with certain exemptions to mitigate the tax burden on essential items. VAT plays a crucial role in diversifying the government's revenue streams beyond direct taxation.

Customs Duties and Excise Taxes

Imported goods may be subject to customs duties, which are levied to protect local industries and generate revenue. Additionally, excise taxes are imposed on specific products, such as tobacco and alcohol, to discourage consumption and address public health concerns.

Property and Stamp Taxes

Property tax in Seychelles is applied to land and buildings, contributing to local government funding. Stamp duties are levied on a range of legal documents, including property transactions, to generate additional government revenue.

Business and Occupational Licenses

Businesses in certain sectors are required to obtain occupational licenses, with fees contributing to the regulatory framework's upkeep and enforcement. These licenses ensure that businesses operate within the legal standards set by the government.

The taxation system in Seychelles is characterized by its balance between promoting economic development and ensuring the government has the resources to provide essential services. For businesses and individuals looking to navigate the Seychelles' tax landscape, it is advisable to consult the latest tax tools and tables. For comprehensive resources on navigating Seychelles' tax system, visit our tax hub.