No tax on Seychellois owned property
April 20, 2021
The Ministry of Finance, Economic Planning and Trade would like to inform members of the public that it is not in the government’s plan to impose any tax on land owned by Seychellois.
All tax related policies were announced in the Budget Speech 2021, delivered on 16th February, before the National Assembly by Minister Naadir Hassan, in which no such tax was announced.
The Ministry has an open door policy and is proactive in giving out information in regards to any issue relating to the its work, and that is why it is urging members of the public to rely on information it issues and not on rumours.
To note, the current Immovable Property Tax Act 2019, which came into effect as of January 2020, is a tax which is applicable to Non–Seychellois who own an Immovable Property for residential purpose.
The tax rate for Immovable Property Tax is 0.25% of the market value. The tax is payable to the Seychelles Revenue commission (SRC) on or before 31 December of every financial year.
The Ministry once again reiterates that it is not in the government’s policy to impose such a tax on land owned by Seychellois.