Per section 34 of the Revenue Administration Act 2009, The Seychelles Revenue Commission (hereafter SRC) is collecting information on all multinational groups or members of a multinational group that are residents of Seychelles.
All entities must complete the Economic Substance Form to comply with the request of the SRC and return it to us by June 21, 2023, at the latest. This practice allows SRC to properly monitor the entities under the new sourcing rules and schedule 11 of the Business Tax Act 2009.
The Economic Substance form attempt to be direct to Seychelles entities which are Seychelles tax resident entity (ies) that are part of a Multinational Group; therefore, it is essential to answer such question.
Keynotes:
Complete and return the form to us by June 20, 2023.
Regarding the first question about “Tax residency”, please note that all Seychelles companies are tax residents of Seychelles; therefore, for all companies, this part should be completed as “YES”.
The information about including the Tax Identification Number (TIN) is optional for the Survey purpose and only if you have been issued a TIN in SEYCHELLES.
If your entity is not a Seychelles tax resident entity that is part of a Multinational Group, Part No. 2 and subsequent will not have to be completed. However, the SRC has advised to include NO for all the questions.
Send the complete form to corporate2@viss.com.hk
You can find the fillable version of the form here:
Should you have any questions, please do not hesitate to let us know at Contact@viss.com.hk
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