In April 2019, the Seychelles Revenue Commission announced its intention to issue all IBCs with TIN number.
It recently has been officially advised that now any IBC will be able to get TIN through its Registered Agent as soon as from the beginning of August. There are two requirements to be met.
The requirements are not complicated. First, the company should be in good standing, and second, its accounting records – originals or copies – should be kept at the registered office address in Seychelles.
Ajman is one of the most rapidly developing emirates. It is very advantageously stretched along the Persian shore for 16 km. The emirate itself boasts beautiful nature. Another important characteristic is it’s the convenient connection to Ajman Dubai, located in just a 27-minute drive away from it. This is the main reason why those who run their businesses in Dubai choose Ajman. All this contributes to Ajman’s rapid growth, attracts investment, and fuels its industrial sector.
Free Zone (FEZ) - geographically separated area of the state, which is different from the rest of the state tax laws and has specific conditions for the local and foreign businesses.
What is the purpose of creating free zones? FZ entails financial income from foreign investors, increases the number of working places, increases volume of trade turnover and production; in general it increases development of the state and of its specific sectors of economy.
Following Reuters's publication of the article "Seychelles to set up company ownership registry in transparency drive" we would like to bring your attention to the response of the Seychelles Financial Services Authority which gives comments on the current situation:
The Seychelles Revenue Commission has announced that a zero rate of value-added tax now applies to the transportation of cargo by sea to inner islands.
The final price charged to consumers will therefore not include VAT, but suppliers will be entitled to input tax credits.
The SRC said businesses falling under this category are still required to lodge their VAT returns to declare the zero rated value of their services and to claim input tax credits.
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