Find Accountancy, Audit and Tax expertise in Seychelles
- Overview
- Profession
- Tax
Overview
There are only a few accountancy firms in Seychelles, such as ACM & Associates, Advanced Business Solution, MM Associates and Pool & Patel Chartered Accountants. The International Financial Reporting Standards (IFRS) have been adopted by the Central Bank of Seychelles; so far businesses and other bodies have not adopted the guidelines. With regards to resolving insolvency, the World Bank Ease of Doing Business Index (2011) places the Seychelles, along with 17 other nations, in 183rd place out of the same number of countries surveyed worldwide. Seychelles ranks well when it comes to strength of auditing and reporting standards, coming 59th out of 143 countries with a score of 4.7 out of 7, above the world mean of 4.6, according to the World Economic Forum Global Competitiveness Report (2012-2013).
Profession
The Association of Chartered Accountant exams (ACCA) are available in the Seychelles and are run by the Seychelles Institute of Management. The University of Seychelles and Seychelles Polytechnic offer courses in accounting.
Tax
The only significant tax for individuals is the Income & Non-Monetary Benefit Income Tax, which is paid by the employer and employee; Seychellois employees pay a rate of 18.75%, non-Seychellois pay 10%. Non-Monetary Benefits Tax is paid by the employer at 20%. There are no capital gains, gift, property or estate taxes and foreign-source income is not taxable. Offshore banks and businesses enjoy some tax exemptions but are obliged to pay social security tax for their employees. The Tax and Customs Agent Board (TACAB) is responsible for the registration and regulation of Tax and Customs agents. Seychelles is part of an increasing network of double taxation avoidance treaties with countries including China, Malaysia, Indonesia, Thailand, South Africa, Zimbabwe, Oman and Mauritius. The World Bank Ease of Doing Business Index (2011) ranks the Seychelles in a healthy 16th position out of 183 countries when it comes to paying taxes. This solid position is reflected in the World Economic Forum’s Global Competitiveness report (2012- 2013) where it scores 32.2 and ranks 44th out of 141 countries worldwide with regards to total tax rate.
| Accountancy, Audit and Tax organisations in Seychelles | |
|---|---|
| Apollo Business Solutions |
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| Moustache & Associates |
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