SRC introduces dedicated return forms and tax payment slip to replace the business activity statement |04 March 2024

To encourage compliance towards monthly tax obligations and to further streamline its processes, the Seychelles Revenue Commission (SRC) has introduced new return forms for each specific tax type and a tax payment slip to be used for all related tax payments.

The specific tax type return forms introduced since January 2024 in pilot phase at all SRC offices, will now be fully implemented to phase out the Business Activity Statements (BAS) which was introduced in 2010.

The one pager BAS form previously used by taxpayers to report and pay monthly taxes, has been found to be cumbersome for some taxpayers lodging and paying one tax only.

As such, taxpayers having monthly obligations moving forward will need to complete and submit the dedicated return form based on their specific tax type together with the payment slip when lodging their return and remitting their payments to SRC.

This will facilitate the reconciliation procedure being conducted internally, thus ensuring the taxpayers account remains up-to-date.

For example, a taxpayer whose liability is towards residential rent tax must as part of his/her monthly obligations complete the specific return form for residential rent. The taxpayer will also need to complete the tax payment slip by ticking the option residential rent payment for 1 month as the tax type and insert the taxable amount at 3% to be paid to SRC.

Should the taxpayer wish to pay his residential rent tax in advance for multiple months, the tax payment slip dedicated solely for payment of residential rent tax for multiple month must be completed and submitted together with residential rent return form.

Taxpayers are advised to always submit the tax payment slip together with their return especially when conducting payments via bank transfers.

As all tax obligations are featured on the tax payment slip, taxpayers having obligations for more than one tax must only complete the payment slip once by ticking the relevant tax type to be paid.

The payment slip and return forms for each tax type can be downloaded via the SRC website at www.src.gov.sc obtained via email at advisory.center@src.gov.sc.

As the Commission has started the migration process unto its new upcoming online tax platform, SRC also calls on taxpayers to submit their payments using the bank transfer facility or any SRC offices given that the e-service/egov platform is no longer accessible to taxpayers lodging their returns and paying taxes from January 2024 onwards.

The platform is at present only accessible to taxpayers lodging their returns and conducting payments for prior years and for those paying their annual Business and Presumptive tax returns for the applicable year 2023.

Taxpayers conducting payments by bank transfers are urged to share the payment slip and dedicated return form with their proof of payment via email to banktransfer@src.gov.sc and to also disregard the information being requested about the payment advise number as this part will be activated when the new tax portal goes live.

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