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Daily Tax Quote

Seychelles Alters Tax Exemption For 13th Month Income

by Mike Godfrey, Tax-News.com, Washington Thursday, May 11, 2017

The Seychelles Government has recently published legislation in the Official Gazette to amend the territory's individual tax regime.

The Income and Non-Monetary Benefits Tax Act (Exemption) Order, 2017, published in the Official Gazette on April 13, 2017, sets the value of 13th month pay that an employee can receive tax-free at SCR10,000 (USD733).

Payments in excess of this amount will be subject to tax at 15 percent.

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