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Seychelles Enacts Law For New Property Tax

Tuesday, December 31, 2019

Seychelles' new Immovable Property Tax Act, 2019, was enacted on December 27, 2019.

The Act introduces an annual tax on immovable property owned by non-Seychellois, calculated at 0.25 percent of the assessed market value of the property.

The law was approved by the Cabinet on September 18, 2019, and published in the Official Gazette on December 12, 2019. It was approved by the National Assembly on December 18, 2019, and was endorsed by the President, Danny Faure, on December 27.