The Seychelles Revenue Commission (SRC) has introduced a mandatory Economic Substance (ES) confirmation process for the 2024 reporting year. Unlike traditional ES filings used in other jurisdictions, Seychelles requires eligible entities to complete a specific questionnaire under Section 34 of the Revenue Administration Act.
This questionnaire helps SRC meet international tax transparency and Country-by-Country Reporting (CbCR) obligations.
The requirement applies to companies registered in Seychelles before 1 January 2024, including International Business Companies (IBCs), Companies with Special Licenses (CSLs), and entities licensed under the Securities Act 2007. Let’s explore information with LNT Consulting.
Seychelles MNE & CbCR Filing
- The filing requirement only applies to active Seychelles entities registered with the Financial Services Authority (FSA) as of 1 January 2024.
- Companies incorporated after this date are not required to complete the questionnaire.
- Dissolved companies are generally excluded, although former directors may still need to provide confirmation.
- The questionnaire is used to identify companies that are part of a Multinational Enterprise (MNE) Group and may fall under Country-by-Country Reporting (CbCR) obligations.
- Failure to submit the questionnaire on time may result in penalties and compliance issues with the SRC.
- Most entities that do not meet MNE or substance requirements will not be charged an additional filing fee.
Seychelles Reporting Requirements
To simplify the process, an online confirmation form has been provided for all eligible Seychelles companies.
Clients with Seychelles entities registered before 1 January 2024 should complete the form as soon as possible to confirm their MNE status.
The process is simple and requires only a few clicks. For clients who prefer a manual option, a paper-based form can also be requested through their designated administrator.
Filing Fees
- No additional fee will be charged for companies that do not fall under the Multinational Enterprise (MNE) criteria or substance requirements.
- This service is included within the annual company fees for the majority of entities.
- Companies identified as part of an MNE Group during the reporting year will be subject to a filing fee of USD 150.
Seychelles SRC Filing Deadlines
To ensure timely filing with the Seychelles Revenue Commission, completed questionnaire forms should be returned by:
- Client Submission Deadline: 23 April 2026
- SRC Filing Deadline: 30 April 2026
Submitting the questionnaire early is strongly recommended to allow sufficient time for review and compliance processing.
Additional Information
Official SRC guidelines and presentation materials relating to MNE and Country-by-Country Reporting (CbCR) requirements are available for reference for any clients who may fall within the reporting scope.
If you or your clients require further assistance, please contact your designated administrator for support.
For more information, please check the link below:
