tax

The government of Seychelles plans to start taxing sugary drinks in efforts to curb the rising obesity levels. The new tax system set to begin in 2019 has not yet been set. The World Health Organization (WHO) advocates for taxation of sugary beverages as the most effective measures of reducing sugar caused diseases and conditions. According to Barathi Biswanathan, the cardiovascular unit program manager...

In July next year it will be implemented a tax on property owned by foreigners. A top official of the Ministry of Finance announced this during a consultative meeting on Thursday. Patrick Payet, the principal secretary for finance, said that the ministry took this decision after discussing with the government. The issue is that the real estate market is populated with foreigners. This makes prices...

The Seychelles’ Minister of Finance announced on Tuesday during the presentation of the 2018 budget to the National assembly that the third and final phase of the new income tax will be implemented on July 1, 2018. The proposed budget of SCR 7,951 million ($586 million) had an increase of 0.4 per cent compared to 2017. Forty percent of the budget will be spent on the Education, Health, Family...

The Ministry of Finance chose to introduce a tax on foreign-owned property to curb foreign investments in real estate. This way the ministry wants to make lands and houses more affordable for Seychellois. "What we have seen with the real estate market is that it is driven by foreigners. We see prices go up and while foreigners can purchase properties, Seychellois lose because they cannot afford to buy...