Double Taxation Agreements in Seychelles
Double Taxation Agreement in Seychelles
Seychelles is a world famous tax haven with scintillating features for potential investors and businessmen. When it comes to tax benefits, Seychelles tops the list of finest destinations for a lucrative investment. It has established a strong, healthy relationship with many countries like Thailand, China, Bahrain, Malaysia, Vietnam, Zambia, Qatar, Indonesia, Cyprus, Botswana, South Africa, Oman, Barbados and Mauritius.
If you are a potential investor from any one of these nations, consider yourself as lucky! That is because Seychelles has an impressive and relaxed range of rules for entrepreneurs from these nations.
An Expanded Tax Treaty
Moving on, Double Taxation Agreements in Seychelles are extremely popular too. The Double tax agreements are signed with nations like Zimbabwe, Sri Lanka, Belgium, Malawi, Bermuda, Luxembourg, Ethiopia, Lesotho and Kuwait. The agreement was signed by will and not by force. In fact, serious negotiation has being done and concluded about the double taxation agreements in Seychelles with nations like Swaziland, Tunisia, Mozambique, Kenya, Egypt, Portugal, Morocco, Namibia and Pakistan. These treaties play a very important role in stabilising Seychelles as a wonderful pick for lucrative business opportunities.
Also, the government believes that these treaties would improve Seychelles as a financial hub in the Indian Ocean! When compared against many other nations, Seychelles has expanded drastically as a tax treaty network,
The Actual Dates. Double Taxation Agreements in Seychelles
The very first double taxation agreement in Seychelles was signed in August 2010. The exchange agreement was between Seychelles and Netherland. The signup became effective from 14th May 2012. The tax information exchange agreement came into force with many other TIEAs like Guernsey, Denmark, Sweden, Faroe Islands, Norway and Iceland.
Some Rules are for Your Good!
Meanwhile, Indonesia geared up to abrogate the double taxation agreement with Seychelles. The abrogation was caused due to round tripping by various Indonesian organisations. However, nothing significant happened until 2010. In 2010, Seychelles Association of Offshore Practitioners and Registered Agents identified the double taxation agreement as a legal binding that should not be ended. Moreover, the organisation declared that Seychelles Companies can be residents in Indonesia too. If a company steps down from the double taxation agreement, it will be completely taxable in Indonesia. On the contrary, if individuals are a part of Seychelles tax-resident companies with Indonesian shares, but the Seychelles doesn’t perform any active tasks in Indonesia; the Seychelles Company is allowed to enjoy the Double Taxation Agreement.
Double Taxation Avoidance Agreements In force:
- Bahrain – Seychelles DTAA, Date of entry into force: 3rd February 2012
- Barbados – Seychelles DTAA, Date of entry into force: 28th February 2008
- Botswana – Seychelles DTAA, Date of entry into force: 22nd June 2005
- China – Seychelles DTAA, Date of entry into force: 17th January 2000
- Cyprus – Seychelles DTAA, Date of entry into force: 2nd November 2006
- Indonesia – Seychelles DTAA, Date of entry into force: 16th May 2000
- Malaysia – Seychelles DTAA, Date of entry into force: 10th July 2006
- Mauritius – Seychelles DTAA, Date of entry into force: 22nd June 2005
- Oman – Seychelles DTAA, Date of entry into force: 20th January 2004
- Qatar – Seychelles DTAA, Date of entry into force: 1st January 2008
- South Africa – Seychelles DTAA, Date of entry into force: 3rd July 2002
- Thailand – Seychelles DTAA, Date of entry into force: 14th April 2006
- U.A.E – Seychelles DTAA, Date of entry into force: 23rd April 2007
- Vietnam – Seychelles DTAA, Date of entry into force: 7th July 2006
- Zambia – Seychelles DTAA, Date of entry into force: 4th June 2012
- Monaco – Seychelles DTAA, Date of entry into force: 01st January 2013
DTA Agreements Signed (Not in Force):
- Double Taxation Agreement with Belgium
- Double Taxation Agreement with Bermuda
- Double Taxation Agreement with Ethiopia
- Double Taxation Agreement with Kuwait
- Double Taxation Agreement with Lesotho
- Double Taxation Agreement with Luxembourg
- Double Taxation Agreement with Malawi
- Double Taxation Agreement with Monaco
- Double Taxation Agreement with Sri Lanka
- Double Taxation Agreement with Zimbabwe
Tax Information Exchange Agreements (TIEA) in force:
- Denmark – Seychelles TIEA, Date of entry into force: 14th May 2012
- Greenland – Seychelles TIEA, Date of entry into force: 25th June 2012
- Guernsey – Seychelles TIEA, Date of entry into force: 14th May 2012
- Finland – Seychelles TIEA, Date of entry into force: 25th June 2012
- Iceland – Seychelles TIEA, Date of entry into force: 14th May 2012
- Netherlands – Seychelles TIEA, Date of entry into force: 14 May 2012
- Norway – Seychelles TIEA, Date of entry into force: 14th May 2012
- Sweden – Seychelles TIEA, Date of entry into force: 14th May 2012
- The Faroes – Seychelles TIEA, Date of entry into force: 14th May 2012
