PwC Mauritius is the designated office for several services and industries in Seychelles.
With a number of years of presence in Seychelles, we have built long-standing and strong relationships with government organisations, clients from multinationals and in a range of industry sectors, including financial services.
Our experienced teams of specialists across competencies have strong local knowledge and stay abreast of relevant regulatory changes and industry context in Seychelles.
We can offer you a range of services including taxation, audit and accounting technical, sustainability, and related tailored training, amongst others.
We provide the following tax services in Seychelles
Seychelles Tax Insights
Taxation of non-monetary benefits
In Seychelles, the taxation of individuals is governed by the Income and Non-Monetary Benefits Tax Act 2010. An employee is taxed at the rate of 15% on his emoluments and 20% on his non-monetary benefits. The employer withholds the tax at source and remits to the Seychelles Revenue Commission within 21 days after the end of the month in which the tax was withheld. The tax withheld is deemed to be the final tax on the emoluments of the employee.
Effective as from 29 December 2022, non-monetary benefits (for example accommodation and utilities etc) provided to an employee will be taxed at the rate of 15% instead of 20%. The tax will be calculated on the actual cost or taxable value of the non-monetary benefits. Previously, the non-monetary benefits were taxed on their fair market value. Further, meal allowances provided by the employer to the employees are now fully exempt from tax.
Also, where an employee receives emoluments in arrears, the employer should deduct income tax on the emoluments in the month in which those emoluments were due to the employee.
Talk to us:
Shafeenaz Molotoo
Senior Manager - Tax
shafeenaz.molotoo@pwc.com
Mobile: +230 5 474 1778 | Office: +230 404 5039
Shafeenaz will be your direct point of contact for any Tax services you require in Seychelles.
Shafeenaz joined PwC in 2008. Besides providing advisory and compliance services to a broad range of clients, Shafeenaz specialises in providing assistance to clients on tax investigations. She drives the Seychelles tax desk and has been working with businesses in Seychelles to help them unravel a range of tax issues involving both planning and compliance.
She also leads the Learning & Development programme for PwC Mauritius which includes both staff and client tax technical training.
Accounting Technical
In the current dynamic business landscape, it’s important to stay up to date with all the regulatory and financial reporting changes.
Our comprehensive accounting technical solutions presented by our Capital Markets and Accounting Advisory Services (CMAAS) team, are designed to address your specific needs and enable you to maximise on the benefits of International Financial Reporting Standards (IFRS), a globally recognised framework that not only enhances transparency, but also provides a competitive edge in the ever-expanding global marketplace.
The Sustainability and Climate Change aspect of IFRS has created a paradigm shift in the way business is conducted on the global market. Reporting on these aspects comes with its complexities and we recognise that these can be challenging. Our team is poised to guide you through these, ensuring a smooth and ongoing support tailored to your needs.
Services offered:
Navigating today’s financial reporting challenges can be daunting. Having an external consultant to assist and accompany you in this journey is crucial. Since PwC has worked in the same capacity with a number of other industries (both in the region and in the Seychelles), we believe we can be a trusted advisor to help our clients achieve synergies.
How we add value: Reducing complexity
PwC’s credentialed trusted advisors offer solutions on various accounting and financial reporting challenges. With deep technical knowledge in IFRS and our regulatory environment, we are well-versed and experienced to provide our clients with a unique blend of transaction and accounting expertise that helps clients manage accounting and financial reporting issues smoothly, within the timelines and in compliance with regulations.
Some of the key areas where we can add value include:
Our approach
The first step towards accounting advisory services is to have an understanding of the business context and fact pattern from the organisation. It is essential to have the right approach put in place to ensure you can achieve your [...] goals and strategy. As such, we work with our clients to better understand their business well before proposing a plan and related activities required.
Our involvement will include coaching and guiding the client’s teams in an effective manner so as to allow them to fulfil expected roles and responsibilities.
Experienced people at your service
An experienced team of specialists across competencies can offer you a comprehensive service whereby the CMAAS team and IFRS Specialists team form part of PwC Mauritius. We are also able to access our regional and global team of IFRS and benefit from their expertise.
Contact person
Raj Ghunowa
Associate Director, PwC Mauritius
raj.ghunowa@pwc.com
Mobile: +230 5762 6035 | Office: +230 404 5047
Raj will be your direct point of contact for any Accounting Technical services you require in Seychelles.
Raj is an Associate Director and has over 15 years of professional experience with the firm. He recently completed a two-year secondment with PwC South Africa (Cape Town) before moving back to PwC Mauritius.
Raj worked on audit engagements of a wide range of clients in a number of industries including banking, asset and fund management, telecommunication, retail, hotel and hospitality and pharmaceutical before moving to the Capital Markets and Accounting Advisory Services (‘CMAAS’) practice.
As part of his role in CMAAS, he is involved in delivering IFRS training to his clients and to the public, assist his clients in resolving complex accounting issues and helps his clients in the implementation of new standards and conversion to IFRSs.
Sustainability Reporting
The Sustainability and Climate Change aspect of IFRS, which has created a paradigm shift in the way business is conducted on the global market.
As a result, an increasing number of organisations account for their behaviour in reports such as integrated reports, sustainability reports, CO2 emission reports, and others. Organisations must be able to show that the data is trustworthy and hence credible.
Reporting on these aspects comes with its complexities and we recognise that these can be challenging.
Transform your reporting to incorporate sustainability. Our diverse team, from reporting to environmental experts, navigates standards and regulations giving you confidence on your sustainability journey.
Services offered:
Stakeholders are increasingly demanding that sustainability reporting is at par with financial reporting. Trust, a valuable commodity, requires transparency. In an era of greenwashing concerns, stakeholders seek reliable, relevant, and trustworthy sustainability disclosures.
Our sustainability and climate change services
We are proud to be the first mover in the local market and slowly but surely positioning ourselves as the go-to experts in the region and Africa.
Contact person
Anish Chandra
Associate Director - Sustainability & Climate Change
anish.c.chandra@pwc.com
Mobile: +230 5989 2572 | Office: +230 404 5430
Anish will be your direct point of contact for any Sustainability services you require in Seychelles.
Anish is a Director with over 17 years of experience in Financial Services Consulting with banks, asset and wealth management (AWM) and insurance companies.
He leads the ESG and Sustainability practice in PwC Mauritius.Given his background and experience in the world of financial services, he is looking to amalgamate/ embed ESG and sustainability driven frameworks into the clients’ overall Business Strategy, Operating Models, Data Insights and Technology/ Digital Enablement. His focus is in assisting the clients in their journey of ESG Reporting, embedding Climate Risk into overall ERM and adopting UNEP frameworks like PRI/ PRB/ PSI
Before joining PwC Mauritius, Anish was with PwC India, where he developed and led the Investment Management practice with leading propositions like business operationalisation, tech/digital and business strategy, core system transformation, process optimisation & operational efficiency, sales enablement etc. He was also leading the competency of ‘Operations and Tech Due Diligence‘ in financial services and assisted the Deal Advisory team in due diligence activities, primarily from a buy side perspective.
