The Seychelles Revenue Commission recently issued guidance on the Immovable Property Tax that came into effect on 1 January 2020. The 0.25% tax is levied on the market value of all foreign-owned immovable properties for residential purposes and is payable on or before 31 December of each financial year.
One of the key points of the guidance is that, although not all immovable property is subject to the tax (commercial and industrial property is exempt), all foreign-owned immovable property …