Page 39 - Profmark Africa Overview 2024

Seychelles (GMT +4)

General:
▪ Capital City: Victoria
▪ Official Language: English and French
▪ Currency: Seychelles Rupee (SCR)
▪ Main Exports: Tuna, prawns and other fish, cinnamon bark, copra
▪ Surface Area: 0.5 sq. km (thousands)
▪ Population: 130,418 (2024,est)
Key Economic Indicators:
▪ GDP: $2.14 billion (2023) / GDP Growth Rate: 3.2% (2023)
▪ CPI Inflation Rate (annual): -1% (2023)
▪ Sovereign Credit Rating: Fitch: BB-
▪ Indicator of Economic Freedom Score: 60.4/100
Exchange Controls:
▪ N/A
Basis of Taxation: (Tax Year End: 31 December)
▪ Residents: Territorial (source)
▪ Non-residents: Territorial (source)
Tax Rates:
▪ Individuals: Progressive rates to 30% [the first SCR 8,555.50 of taxable income - 0%]
▪ Companies: 15%
▪ Inheritance and Donations Taxes: N/A
▪ VAT: 15%
▪ Withholding Tax: Varying rates apply to residents and non-residents
▪ Capital Gains Tax (CGT): N/A
▪ Double Taxation Agreements: In place with several countries
Useful links:
▪ Seychelles Revenue Commission http://www.src.gov.sc
▪ Central Bank of Seychelles http://www.cbs.sc
▪ Seychelles Investment Board https://www.investinseychelles.com

37