Revenue commission empowers new taxpayers and businesses |26 October 2023
The workshop in full swing (Photo: Louis Toussaint)
New taxpayers and aspiring entrepreneurs have learned about their rights and responsibilities through a workshop organised yesterday by the Seychelles Revenue Commission (SRC) at the Seychelles Trading Company conference hall.
In an interview with the press, Sheryl Barra, director of Taxpayer's Education and Service Delivery, highlighted the opportunity for unregistered businesses to learn about the necessary steps for registration.
When asked about a recent business registration drive, Ms Barra clarified that the initiative has ended. However, she emphasised that SRC continues to welcome unregistered businesses interested in completing the formal registration process. New legislation this year has extended the registration window from 14 to 28 days.
Ms Barra stressed that the workshop catered not only to newly registered businesses but also to individuals new to the world of business and the SRC. They were given insights into the ‘Annual Lodgment of Returns’ due on March 31, 2024.
This included guidance on the required formulas, record-keeping, legal obligations, and responsibilities for taxpayers. Ms Barra encouraged prospective business owners to thoroughly understand SRC's requirements before embarking on their entrepreneurial journey.
“Before you register your business, you have the chance to look at what SRC is asking from you. Can I as a taxpayer respect these obligations? This is the moment where we give you all the information before you open your business,” she said.
In summary, Ms. Barra's advice to taxpayers is simple: comply with the law and SRC's regulations. She reiterated that SRC is ready to offer support and guidance. If a business encounters challenges, they can seek assistance from SRC, such as temporary suspensions or business closures, to enable a smoother reactivation in the future. Communication with SRC is key to finding suitable solutions. “We ask that you communicate with us. SRC is here to communicate and assist you.”
Ms Barra expressed satisfaction with the workshop's turnout, as it saw registrations from 51 taxpayers, and even some unregistered attendees. This demonstrates a clear demand for education on taxation and taxpayer rights, underscoring the public's interest in understanding SRC's services and procedures.