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Income and Non-Monetary Benefits Tax (Exemption) Order, 2017 (Statutory Instrument 19 of 2017)

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This is the latest version of this legislation commenced on 08 Nov 2017.

Seychelles

Income and Non-Monetary Benefits Tax Act, 2010

Income and Non-Monetary Benefits Tax (Exemption) Order, 2017

Statutory Instrument 19 of 2017

  • Commenced on 13 April 2017

  • [This is the version of this document at 8 November 2017.]


1. Citation

This Order may be cited as the Income and Non-Monetary Benefits Tax (Exemption) Order, 2017.

2. Exemption

(1)The emoluments paid to an employed person as 13th month pay for the tax year 2016 under section 46C of the Employment Act (Cap 69) are exempted from income tax.
(2)The amount of exempt emoluments referred in paragraph (1) is limited to a maximum of SCR10,000 or the 13th month pay whichever is less.
(3)The amount in excess of the exemption limit specified in subregulation (2) shall be liable to income tax at the rate of 15 per cent.