Sc Corporate Income Tax

---
name: sc-corporate-income-tax
description: "Seychelles business tax for tax year 2026 for companies, sole traders and partnerships: 15% and 25% bands, the 25% and 33% regulated sector rate, presumptive tax at 1.5%, virtual asset licensees, withholding tax on payments to non-residents, deduction at source, PAYG, the 31 March return, Tax Agent Lodgment dates and penalties. Use for Seychelles corporate tax rate, presumptive tax, business tax return due date, or withholding tax on dividends and interest. Source-based; no accountant has signed it."
license: "AGPL-3.0-or-later (code) / OpenAccountants Guide License v1.0 (content)"
metadata:
  source: openaccountants
  openaccountants_url: "https://www.openaccountants.com/skills/sc-corporate-income-tax"
  jurisdiction: "SC"
  tax_year: "2026"
  last_updated: "2026-11-01"
---

# Seychelles Corporate Income Tax (Business Tax) v0.2

> **General reference only.** This skill is general tax/accounting reference material for AI-assisted workflows. It has not been reviewed for any specific person's facts, documents, elections, deadlines, residency, filing status, or local procedures. Do not rely on it to file, pay, amend, or take a tax position without review by a qualified professional in the relevant jurisdiction.

## Who this applies to

Every business with Seychelles-sourced income: companies, government bodies, trustees, sole traders, partnerships. A return is due whatever the result. An IBC with no Seychelles-sourced income has no business tax return, see [Company formation](sc-company-formation.md). Income from activities abroad and passive income from non-residents was historically non-taxable; from 16 September 2021 covered companies face an economic substance test on passive income ([SRC](https://src.gov.sc/seychelles-tax-system/)).

## Rates, bands and thresholds

| Item | Amount or rule | Tax year | Official URL |
|---|---|---|---|
| Entity, government body, trustee | 15% on the first SCR 1,000,000 of taxable income; 25% on the remainder | 2026 | https://src.gov.sc/wp-content/uploads/2022/12/SI-108-of-2021-Business-Tax-Amendment-of-Schedules-Regulations-2021.pdf |
| Sole trader or partner | 0% on the first SCR 102,666; 15% to SCR 1,000,000; 25% on the remainder | 2026 | same |
| Casino operators, listed companies, ICSPs, private schools and medical providers | Ordinary rates above since 2022 | 2026 | https://src.gov.sc/wp-content/uploads/2023/02/rates.pdf |
| Telecommunication providers, banks, insurers, alcohol and tobacco manufacturers | 25% on the first SCR 1,000,000; 33% on the remainder | 2026 | same |
| Licensee under the Virtual Asset Services Providers Act | 1.5% of assessable income, from 1 Jan 2025 | 2026 | https://src.gov.sc/wp-content/uploads/2026/02/SI-102-2024-Business-Tax-Amendment-of-Seventh-Schedule-Regulations-2024.pdf |
| Presumptive tax, turnover below SCR 1,000,000 | 1.5% of annual turnover, no expenses | 2026 | https://src.gov.sc/seychelles-tax-system/ |
| WHT: dividend, interest, royalty, natural resource amount or technical services fee to a non-resident | 15%, final tax, subject to treaty | 2026 | same |
| WHT: dividend between resident incorporated entities, or to a resident unincorporated entity | 0% | 2026 | same |
| WHT: non-resident entertainer or sportsperson | 5% | 2026 | same |
| WHT: managerial fee to a non-resident by a financial institution | 33% | 2026 | same |
| WHT: insurance premium to a non-resident | 5% | 2026 | same |
| Bank interest: current account, call deposit | 5% | 2026 | https://src.gov.sc/wp-content/uploads/2025/02/SI-107-2024-Business-Tax-Amendment-of-First-Schedule-Regulations-2024.pdf |
| Bank interest: fixed deposit | 0% for individuals; 5% otherwise | 2026 | same |
| Bank interest: savings, bank to bank, non-resident bank interest, Government Securities | 0% | 2026 | same |
| Interest from a non-financial institution to a non-financial institution | 15% | 2026 | same |
| Deduction at source on specified businesses (maintenance, building, mechanic, omnibus hire, plant hire) | 1.5% of the amount paid | 2026 | https://src.gov.sc/seychelles-tax-system/ |
| Approved gifts | 150% deductible | 2026 | same |
| Tourism Marketing Tax, listed activities, turnover SCR 1,000,000 or more | 0.5% | 2026 | same |
| Accommodation Turnover Tax, operator at SCR 100,000,000 or more | 2%, not deductible | 2026 | same |

The SRC page still shows 15% on Treasury Bills and 5% on bearer bonds. S.I. 107 of 2024 now sets Government Securities at 0% from 1 January 2025, and the law wins. CSR tax was repealed on 20 April 2021. No 2026 amendment to this rate was found on the SRC legislation list read on 1 Nov 2026, so 2026 rests on the instruments below staying in force.

## The base

Taxable income is assessable income less allowable deductions, except amounts exempt under the Second Schedule. The return reports income and expenses on a cash basis ([SRC](https://src.gov.sc/seychelles-tax-system/)). Presumptive taxpayers declare turnover only. Tax deducted at source is credited against the year's business tax, with any excess refunded; assessable income is taken gross of it.

## Deadlines and filing

| Step | Rule | Source |
|---|---|---|
| Register | SRC within 28 days of starting; employees within 7 days | https://src.gov.sc/wp-content/uploads/2023/01/SI-138-2022-Revenue-Administration-Business-Registration-and-Declaration-of-Operation-Regulations-2022-1.pdf |
| Business or presumptive return and payment | 31 March after the tax year, even at nil or a loss | https://src.gov.sc/seychelles-tax-system/ |
| Substituted tax year | Within 3 months after that year ends, Business Tax Act s 57 | same |
| Tax Agent Lodgment Program | 30 June sole traders and partnerships with taxable supplies; 31 July companies with taxable supplies; 31 October non-taxable supplies; substituted year 3 months after year end or 30 September at the earliest | same |
| PAYG, WHT, DAS and other monthly returns | 21st of the following month in person; 23rd through the SRC Tax Portal or, for payment, bank transfer | https://src.gov.sc/wp-content/uploads/2024/12/Act-27-2023-Revenue-Law-Amendment-Act-2023.pdf |
| Large business, or any payment of SCR 50,000 or more | Must use the Tax Portal | same |
| Records | 7 years | https://src.gov.sc/seychelles-tax-system/ |

How to file: log in at [tms.src.gov.sc](https://tms.src.gov.sc/) or lodge at SRC. Complete the return that fits: simplified presumptive return, standard return, or Schedule 3 return for large, multinational and group businesses ([S.I. 108 of 2024 and Public Ruling 2025-1](https://src.gov.sc/wp-content/uploads/2025/04/Public-Ruling-BTR_final_02.04.2025.pdf)). Add the Related Party Dealings Schedule where needed, see [Transfer pricing](sc-transfer-pricing.md). Pay to SRC Collection Account 14192 at the Central Bank of Seychelles and email proof to banktransfer@src.gov.sc ([SRC](https://src.gov.sc/seychelles-tax-system/)). Cheques to the tax division are capped at SCR 200,000 in 2026, SCR 100,000 in 2027 and SCR 50,000 in 2028 ([SRC](https://src.gov.sc/src-establishes-cheque-threshold-policy-for-payment/)). DAS payers enclose the blue page of the DAS book. Form box numbers were not read.

Presumptive taxpayers may prepay 1.5% monthly on the tax payment slip; a missed month has no penalty.

## Penalties and interest

| Item | Amount or rule | Tax year | Official URL |
|---|---|---|---|
| Late lodgment, small business | SR 500 plus SR 50 a week or part week | 2026 | https://src.gov.sc/wp-content/uploads/2022/11/Penalties-Brochure.pdf |
| Late lodgment, medium business | SR 1,000 plus SR 100 a week or part week | 2026 | same |
| Late lodgment, large business | SR 5,000 plus SR 500 a week or part week | 2026 | same |
| Late payment | Flat 10% of the amount due | 2026 | same |
| Interest | Central Bank quarterly average prime lending rate plus 3% | 2026 | same |
| Registration offences | Up to one year in prison or SCR 50,000, or both | 2026 | https://src.gov.sc/seychelles-tax-system/ |

The penalty brochure dates from about 2017. Debt instalments are at SRC's discretion; a default makes the balance payable at once (Revenue Administration Act s 22(3)).

## Cross-border points

The payer withholds and remits through the BAS or withholding form, checking permanent establishment rules and the treaty. Treaties in force are on the [Agreements page](https://src.gov.sc/agreements/). Treaty rates were not read.

## Two worked examples that recompute

Decision: SCR 1,500,000 of profit as a company or sole trader. A company pays SCR 275,000. A sole trader pays SCR 259,600.10, so SCR 15,399.90 less on the rate alone.

```oa-check
name: Company against sole trader, profit SCR 1,500,000
inputs:
  profit: 1500000
steps:
  - company: 1000000 * 0.15 + (profit - 1000000) * 0.25
  - sole: (1000000 - 102666) * 0.15 + (profit - 1000000) * 0.25
  - gap: company - sole
expected:
  gap: 15399.90
```

Edge case: a bank with the same profit pays SCR 250,000 plus SCR 165,000, SCR 415,000.

```oa-check
name: Bank, profit SCR 1,500,000
inputs:
  profit: 1500000
steps:
  - tax: 1000000 * 0.25 + (profit - 1000000) * 0.33
expected:
  tax: 415000
```

## Ask the client first

- Entity type and sector?
- Annual turnover, against SCR 1,000,000?
- Tax year: calendar or approved substituted?
- Payments to non-residents, and their country?
- Related parties?
- Under a Tax Agent Lodgment Program?

## Sources

| Source | URL | Read on |
|---|---|---|
| Read for the figures cited: S.I. 108 of 2021, reg 2, First Schedule item 1 | https://src.gov.sc/wp-content/uploads/2022/12/SI-108-of-2021-Business-Tax-Amendment-of-Schedules-Regulations-2021.pdf | 2026-11-01 |
| Read for the figures cited: SRC normal business tax rates sheet, effective 1 Jan 2022 | https://src.gov.sc/wp-content/uploads/2023/02/rates.pdf | 2026-11-01 |
| Read for the figures cited: S.I. 102 of 2024, whole instrument | https://src.gov.sc/wp-content/uploads/2026/02/SI-102-2024-Business-Tax-Amendment-of-Seventh-Schedule-Regulations-2024.pdf | 2026-11-01 |
| Read for the figures cited: S.I. 107 of 2024, whole instrument | https://src.gov.sc/wp-content/uploads/2025/02/SI-107-2024-Business-Tax-Amendment-of-First-Schedule-Regulations-2024.pdf | 2026-11-01 |
| Read for the figures cited: SRC Tax System page, whole page read | https://src.gov.sc/seychelles-tax-system/ | 2026-11-01 |
| Read for the figures cited: Revenue Law (Amendment) Act 2023 (Act 27 of 2023), ss 3, 4, 7 | https://src.gov.sc/wp-content/uploads/2024/12/Act-27-2023-Revenue-Law-Amendment-Act-2023.pdf | 2026-11-01 |
| Read for the figures cited: SRC Penalties brochure, whole brochure | https://src.gov.sc/wp-content/uploads/2022/11/Penalties-Brochure.pdf | 2026-11-01 |
| Read for the figures cited: S.I. 138 of 2022, registration regs | https://src.gov.sc/wp-content/uploads/2023/01/SI-138-2022-Revenue-Administration-Business-Registration-and-Declaration-of-Operation-Regulations-2022-1.pdf | 2026-11-01 |
| Read for the figures cited: SRC Public Ruling 2025-1, read by OCR | https://src.gov.sc/wp-content/uploads/2025/04/Public-Ruling-BTR_final_02.04.2025.pdf | 2026-11-01 |
| Read for the figures cited: SRC cheque threshold notice, July 2026 | https://src.gov.sc/src-establishes-cheque-threshold-policy-for-payment/ | 2026-11-01 |
| Read for the figures cited: SRC Agreements page, treaty lists | https://src.gov.sc/agreements/ | 2026-11-01 |

Not yet confirmed: loss carry-forward period and depreciation rates; the size definitions of small, medium and large business; whether the 2017 penalty amounts are unchanged; the full text of the economic substance test; treaty rates. The Business Tax Act 2009 consolidated text was not read; the amending instruments were.

## Today's figures and who stands behind this skill

This file is an AI skill (tax rules your AI follows) from OpenAccountants, copied on 2026-11-01. Rates, thresholds and deadlines change. For the current version of this skill, its official sources and the named accountant (if any) who stands behind it, call `get_skill` with slug `sc-corporate-income-tax` on the OpenAccountants connector (https://www.openaccountants.com/connect), or read https://www.openaccountants.com/skills/sc-corporate-income-tax. If neither is available, confirm every figure against the official source pages cited above before relying on it.