Seychelles accounting services
Have questions? We're here to help!
Message us on Telegram or WhatsApp for fast assistance!
Accounting support in Seychelles is essential for businesses operating in this jurisdiction, as Seychelles offers a favorable tax regime and is a popular offshore financial center. Companies, especially International Business Companies (IBCs).
What are the Legal Requirements in Accounting in Seychelles?
Annual Financial Statements
For each financial year, typically running from January 1 to December 31, businesses are required to prepare Annual Financial Statements. These statements must be filed annually with both the Seychelles Revenue Commission (SRC) and the Registrar of Companies. The submission deadline is set at 6 months after the end of the financial year, meaning they are due by June 30th each year.
Corporate Income Tax Returns
Businesses are obligated to file their Corporate Income Tax returns annually by March 31st of the following year. It is possible to request extensions for this deadline, but such requests must be formally submitted to and approved by the Seychelles Revenue Commission (SRC).
VAT Reporting
Businesses in Seychelles with annual taxable supplies exceeding SCR 2 million are mandated to register for Value Added Tax (VAT). Businesses with supplies below this threshold may opt for voluntary registration. VAT reporting periods can be either monthly or quarterly, depending on the specific agreement established with the SRC. Regardless of the reporting period, VAT returns are due by the 21st of the month following the end of the agreed reporting period (monthly or quarterly). VAT returns must include comprehensive information such as total sales and taxable supplies within the reporting period, the amount of VAT collected on sales (output VAT), the VAT paid on eligible purchases and expenses (input VAT), and the calculated net VAT payable or refundable (Output VAT minus Input VAT). It is also crucial for businesses to maintain meticulous records, including all supporting documents like invoices, receipts, and transaction proofs, for a period of 7 years.
4 STEPS TO OBTAINING ACCOUNTING SUPPORT
Maintain Systematic Record-Keeping
Ensure accurate and consistent bookkeeping practices throughout the year. This forms the bedrock for all subsequent reporting endeavors.
Prepare Annual Statements & Tax Returns
Generate annual financial statements and corporate income tax returns promptly for submission to the relevant authorities by the deadlines.
Manage VAT Reporting Efficiently
Establish a streamlined process for preparing and submitting VAT returns within the stipulated timeframes, if your company is VAT registered.
Ensure Ongoing Compliance & Secure Expert Support
Stay abreast of legislative changes and, when needed, seek professional consultation to guarantee continuous compliance and prevent errors.
Frequently Asked Questions
Still have a questions?
Why is it important?
It optimizes tax liabilities, ensures accurate financial records, and facilitates smooth audits and regulatory compliance.
What are the key compliance requirements?
Companies must prepare annual financial statements, file corporate tax returns and VAT reports by strict deadlines, and maintain records for 7 years.
What services are provided?
Our ervices include daily bookkeeping, IFRS financial reporting, tax filing, payroll processing, and financial consultancy.
How does it benefit international operations?
It supports multi-jurisdictional compliance, manages cross-border transactions, and ensures effective currency conversions for global business.
OUR SERVICES INCLUDE
Financial Accounting Foundation
Our company offers a comprehensive suite of accounting and financial services designed to support your business at every stage of its development. We begin with the fundamental aspects of Financial Accounting, including daily bookkeeping, processing transactions such as sales, purchases, receipts, and payments, and preparing financial statements in accordance with International Financial Reporting Standards (IFRS), encompassing the income statement, balance sheet, and cash flow statement. To ensure accuracy and consistency, we also conduct bank reconciliations, matching business accounts with bank statements.
Tax Compliance Expertise
In the realm of Tax Compliance Services, we undertake the obligations of calculating and submitting annual corporate income tax returns to the Seychelles Revenue Commission (SRC), provide VAT registration and filing services, manage withholding taxes, and assist with compliance and reporting for Corporate Social Responsibility (CSR) tax obligations.
Payroll Solutions for Efficiency
To optimize Payroll Services, we offer solutions for calculating salaries, benefits, and statutory deductions for employees, ensuring adherence to Seychelles’ labor laws and contributions to the Seychelles Pension Fund. We also provide the issuance of detailed payslips to employees.
Consultancy for Financial Growth and Risk Management
Our Consultancy Services encompass in-depth financial analysis to identify trends and areas for improvement, business valuation for purposes of sale, merger, or investment, as well as risk management aimed at identifying and mitigating financial risks.
Stay in Touch with Us
We are always available
Our team ensures your UAE business setup is smooth, efficient, and compliant with local laws. Contact us today to discuss your project.
Cyprus, Limassol
Franklinou Rousvelt, 170 Limassol Chamber, 3048, Limassol, Cyprus
Estonia, Tallinn
Harju maakond, Tallinn, Kesklinna linnaosa, Tuukri tn 19-315, 10152
UAE, Dubai
Building A1, Dubai Digital Park, Dubai Silicon Oasis, Dubai, United Arab Emirates
Ukraine, Kiyv
Kyiv, Azov Regiment Heroes Street 12, 04212
United States, New York
228 Park Ave S, New York City, New York, 10003, United States
Get in Touch
Leave your inquiry, and our legal team will get back to you as soon as possible. Initial consultation is free of charge and confidential.
Or contact us directly on:
