Seychelles Repealing Corporate Social Responsibility Tax and Introducing New Standard Business Tax Rates as Part of 2021 Budget

The Seychelles Minister for Finance, Economic Planning, and Trade, Naadir Hassan, presented the 2021 Budget before the National Assembly on 16 February 2021. One of the key measures of the Budget is the abolishment of the 0.5% corporate social responsibility (CSR) tax with effect from 1 April 2021, which is levied on taxpayers with an annual turnover of at least SCR 1 million. In addition, the Minister announced government plans to implement standard business tax rates that will apply to all…