Value Added Tax (Refunds) Regulation, 2013

Statutory Instrument 34 of 2013

There are outstanding amendments that have not yet been applied. See the History tab for more information.
Citation
Statutory Instrument 34 of 2013
Primary work
Value Added Tax Act
Date
8 November 2017
Language
English
Type
Statutory Instrument
Publication
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Seychelles
Value Added Tax Act

Value Added Tax (Refunds) Regulation, 2013

Statutory Instrument 34 of 2013

  • Published on 22 April 2013
  • Assented to on 18 April 2013
  • Commenced on 22 April 2013
  • [This is the version of this document as it was at 8 November 2017 to 31 December 2024.]
  1. [Amended by Value Added Tax (Refunds) (Amendment) Regulations, 2014 (Statutory Instrument 61 of 2014) on 1 September 2014]
[SI 34 of 2013; 61 of 2014]

1. Citation

This regulation may be cited as the Value Added Tax (Refunds) Regulation, 2013.[regulation 1 amended by regulation 2(b) of SI 61 of 2014 with effect from 1 September 2014]

2. Refund

A refund may be claimed, where—
(a)VAT credit has been carried forward to two consecutive VAT periods and exceeds SCR 10,000 at the end of the third VAT period by a compulsory registered taxable person;
(b)a VAT credit exceeding SCR 10,000 is reported on the quarterly return by a voluntary registered taxable person; or
(c)unless otherwise applicable, a VAT credit exceeding SCR 10,000 is reported on a monthly return by an exporter, supplier of zero-rated goods or services or investor during the commencement phase of the business activity.

3. VAT returns and payment obligations

Subject to regulation 2, a VAT refund shall be granted where a taxable person has claimed for a refund on a VAT return duly completed and has fulfilled all payment obligations.

4. Statutory period

Any VAT refund is processed within a statutory period of 30 days from the date the claim for refund is made unless the taxable person has—
(a)submitted inaccurate VAT returns;
(b)failed to respond within a reasonable period to queries;
(c)been engaged in fraudulent activity.
[regulation 4 amended by regulation 2(a) of SI 61 of 2014 with effect from 1 September 2014]

5. Definition

For the purpose of this regulation—"exporter" means where a taxable person's turnover is attributable to 85% of the export sales;"supplier of zero-rated goods or services" means where a taxable person's turnover is attributable to 85% of the zero-rated supplies excluding any export sales;"investor during the commencement phase" means a taxable person who had not collected any VAT and has incurred preliminary expenditures in relation to the commencement of the business activity.
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History of this document

01 January 2025 amendment not yet applied
08 November 2017 this version
Consolidation
01 September 2014
22 April 2013
Commenced
18 April 2013
Assented to