Rédaction Africa Links 24 with nation.sc
Published on 2024-03-04 19:48:14
The Seychelles Revenue Commission (SRC) has recently made changes to its tax return forms and payment procedures to encourage compliance with monthly tax obligations and streamline its processes. The SRC has introduced new return forms for each specific tax type and a tax payment slip to be used for all related tax payments.
Starting in January 2024, the new specific tax type return forms are being implemented at all SRC offices. These new forms will phase out the Business Activity Statements (BAS) that were introduced in 2010. The BAS form, a one-page form used by taxpayers to report and pay monthly taxes, has been found to be cumbersome for some taxpayers, especially those with only one tax obligation.
Moving forward, taxpayers with monthly obligations must complete and submit the dedicated return form for their specific tax type along with the payment slip when lodging their return and remitting their payments to the SRC. This will help facilitate the internal reconciliation procedure and ensure that the taxpayer’s account remains up-to-date.
For example, a taxpayer liable for residential rent tax must complete the specific return form for residential rent and use the tax payment slip to indicate the type of tax being paid and the taxable amount at the specified rate. If the taxpayer wishes to pay residential rent tax in advance for multiple months, a separate tax payment slip dedicated to multiple month payments must be completed and submitted along with the residential rent return form.
Taxpayers are advised to always submit the tax payment slip with their return, especially when making payments via bank transfers. The payment slip includes all tax obligations, so taxpayers with multiple tax obligations only need to complete the slip once and indicate the relevant tax type to be paid.
The payment slip and return forms for each tax type can be downloaded from the SRC website or obtained via email. As the SRC is in the process of migrating to a new online tax platform, taxpayers are encouraged to submit payments using bank transfers or at SRC offices. The e-service/egov platform will no longer be accessible to taxpayers for submitting returns and paying taxes starting in January 2024.
The online platform is currently only accessible for taxpayers lodging returns and making payments for prior years and for those paying annual Business and Presumptive tax returns for the year 2023. Taxpayers making payments via bank transfers should share the payment slip, dedicated return form, and proof of payment via email. Additionally, taxpayers should disregard any requests for payment advice numbers, as this feature will be activated once the new tax portal is live.
Overall, these changes are aimed at making the tax submission process more efficient and convenient for taxpayers while ensuring compliance with monthly tax obligations. Taxpayers are encouraged to familiarize themselves with the new forms and procedures to avoid any delays or issues with their tax payments.
Read the original article on Nation.SC
