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SEYCHELLES FACT FILEThe Seychelles' Lowtax SpecialisationsThe Seychelles have territorial taxation; thus only locally-sourced income is taxed. There is recent, well-formed legislation for International Business Companies, Offshore Banks, Insurance Companies, Mutual Funds, Trusts, and extensive programmes of investment incentives, as well as the International Trade Zone, all of these being basically free of taxes. In 2003, the government legislated for additional types of company: Special Licence Companies, Protected Cell Companies and Limited Partnerships. It is easy to form corporations, and privacy is reasonably assured.
There are tax treaties with a number of countries, including China.
Banking and shipping are the Seychelles' two main 'offshore' industries.
The Seychelles started to create an IOFC only quite recently, but by
2008, more than 50,000 companies had already been registered. The Trade
Zone is probably the most successful aspect of the offshore initiative,
and that has more to do with trade than tax. Visit the
Full Seychelles Fact File |
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TAX-NEWS.COM
In what appears to be another example of Democrat and Republican disagreement over federal spending, the United States Congress failed to renew authorization for the airline passenger ticket tax and other aviation-related taxes by midnight on July 22, and several Federal Aviation Administration programmes have thereby expired. Continue Reading
The States of Jersey has approved an amendment to the Income Tax (Jersey) Law and Regulations to encourage high-net-worth individuals to invest in Jersey. Continue Reading
UK legislative amendments have been published with respect to the collection and management of the Banking Levy. The changes will enter into force on August 11, 2011, the UK tax authority, HM Revenue and Customs has said. Continue Reading
The Isle of Man Financial Supervision Commission has warned of external legislation that may affect licenceholders in the Isle of Man, including the UK Bribery Act 2010, which came into effect on July 1, 2011, and the US Foreign Account Tax Compliance Act, which is due to be phased in from 2013. Continue Reading
For the information of duty payers and their tax representatives, Hong Kong’s Inland Revenue Department has issued interpretation and practice notes concerning the special stamp duty, that was introduced by the government in November last year. Continue Reading |
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