|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.