Exemption of income tax for employees earning minimum wage of SR 5,050 including those on casual or part-time basis as of 1st April 2016.
April 01, 2016
As of 1st April 2016, all employees earning a minimum wage of SR 5,050 and those on casual or part-time basis, earning up to SR 5,050 will not be liable to any income tax. The normal rate of 15% will be applicable on all employees earning a salary of SR 5,941.18 and above.
For employees earning above 5,050 up to 5,941.17, a new formula to calculate the tax rate will be applicable. Members of the general public are advised to visit any offices of the Seychelles Revenue Commission (SRC) or the SRC website for more information about the new formula.
All employers will have to continue to submit their payroll even if there is no income tax applicable on the salary of their employees.
In line with the announcement made by the president, there will be future changes to the income tax regime and all employers and employees are advised to regularly visit the SRC website for future messages.
Representatives of the Seychelles Revenue Commission and the Ministry of Finance, Trade and the Blue Economy will be available for a press Conference, Thursday 7th April 2016, 1.30 p.m at Liberty House to provide additional details.