Seychelles vs Singapore

Standard business tax: 15% on the first SCR 1 million, 25% above. Telecom, banking, insurance, alcohol & tobacco manufacturers: 25% on the first SCR 1 million, 33% above. Small business presumptive tax: 1.5% on turnover (non-VAT registered, under SCR 1M turnover).

17

The business tax return is due by 31 March, three months after the end of a calendar tax year, or within three months after the end of a substituted tax year.

November 30

The business tax balance is paid with the return: by 31 March for a calendar tax year, or within three months after the end of a substituted tax year.

Tax is payable within one month from the date of the Notice of Assessment.

Business tax instalments are paid monthly under the SRC's Pay As You Go scheme, by the 21st day after the end of each month with a Business Activity Statement; the balance is paid with the return due by 31 March.

The estimated income tax assessment must be submitted within three months after the end of the company's fiscal year. The estimated tax should be paid within one month after receiving the assessment notice, or paid in installments according to the installment payment plan. No estimated chargeable income (ECI) needs to be filed for a year of assessment when the company's annual revenue for the financial year is S$5,000,000 or below and its ECI is nil (the IRAS ECI filing waiver).

0/0-15/NA

15/15/15

0/15/10

15%

9

Capital gains are not subject to tax in Seychelles.

23.20%

16.09%

17.33%

13.15%