Cabinet approves new regulations to tackle tax evasion through transfer pricing |22 April 2025
Cabinet approves new regulations to tackle tax evasion through transfer pricing
By Laura Pillay
The Cabinet has approved new Transfer Pricing Regulations under the Business Tax Act, 2009. These regulations aim to help better explain and apply Section 54 of the law, which was amended in 2022.
The new rules were developed by the Seychelles Revenue Commission (SRC) in collaboration with the World Bank.
Transfer pricing is a method used by some businesses to reduce the amount of tax they have to pay, explained Vice President Ahmed Afif during Thursday’s media briefing at State House. One common method is when a business sets up a company outside Seychelles and declares lower earnings locally, so they pay less tax.
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