No tax on land owned by Seychellois |21 April 2021

The Ministry of Finance, Economic Planning and Trade would like to inform members of the public that it is not in the government’s plan to impose any tax on land owned by Seychellois.

“All tax related policies were announced in the Budget Speech 2021, delivered on February 16 before the National Assembly by Minister Naadir Hassan, in which no such tax was announced,” a press release from the ministry says.

“The ministry has an open door policy and is proactive in giving out information in regards to any issue relating to its work, and that is why it is urging members of the public to rely on information it issues and not on rumours,” adds the press release.

To note, the current Immovable Property Tax Act 2019, which came into effect as of January 2020, is a tax which is applicable to non-Seychellois who own an immovable property for residential purpose.
The tax rate for Immovable Property Tax is 0.25% of the market value. The tax is payable to the Seychelles Revenue commission (SRC) on or before December 31 of every financial year.

“The ministry reiterates that it is not in the government’s policy to impose such a tax on land owned by Seychellois,” concludes the press release.

Press release from the Ministry of Finance, Economic Planning & Trade