The Ministry of Finance, National Planning and Trade has refuted claims circulating on social media suggesting that the government intends to introduce new taxes on individuals and businesses.
In an interview conducted on 22nd September, the Principal Secretary for Finance, Ms. Astride Tamatave, categorically dismissed these allegations as false.
She confirmed that the government is NOT introducing new capital gains, dividend, or inheritance taxes, nor revising the business tax as claimed. Ms. Tamatave further affirmed that the introduction of such taxes has never been under consideration by the government.
With regard to business tax, she explained that over the past five years, businesses have in fact benefited from reductions in tax rates, not increases.
Ms. Tamatave also clarified that the revision in the Personal Income Tax, announced in the 2025 National Budget, is intended to benefit taxpayers by allowing them to claim refunds on expenses such as health, education, and insurance. At present, this proposal is still in its research stage to ensure a system that is better suited for Seychelles’ small economy.
She further noted that the economy is performing well, the country’s fiscal position is strong, and future expenditures remain aligned with fiscal policies, particularly in terms of debt servicing. Therefore, she stressed, there is no need for the introduction of new taxes.