Economic Substance relating to Seychelles International Business Companies
The Seychelles BTAA has updated the Business Tax Act to comply with the European Union’s Economic Substance requirements. Previously, Seychelles operated under a territorial tax regime, meaning only income sourced within the country was subject to taxation. Foreign-sourced income was exempt from Seychelles taxation. However, pursuant to the BTAA updates, exemptions for foreign sourced income have been specified.