Employment Cost Calculator in Seychelles

Employer Tax Contributions

Tax Type	Rate	Base
Social Security Fund (SSF)	6%	Employee's gross monthly earnings
Seychelles Pension Fund (SPF)	7.5%	Employee's gross monthly salary
Non-Monetary Benefits Tax	15%	Value of non-monetary benefits provided
Corporate Social Responsibility Tax	0.5%	Monthly turnover (for companies with SCR 1 million+ turnover)

Filing & Compliance

• PAYE income tax and SPF/SSF contributions withheld and contributed must be remitted by the 21st of the following month.
• Monthly returns detailing employee earnings, deductions, and contributions are required.
• Annual reconciliation of PAYE and submission of annual employee income details (e.g., P9 forms) are required, summarizing total earnings and taxes for each employee by January 21st.

In Seychelles, employee tax deductions primarily consist of income tax and social security contributions.

Income Tax

• Tax Rates for Citizens: A progressive tax system applies to Seychellois employees:
  • SCR 0 to 8,555.50: 0%
  • SCR 8,555.51 to 10,000: 15%
  • SCR 10,001 to 83,000: 20%
  • Above SCR 83,000: 30%
• Tax Rates for Non-Citizens: Non-citizen employees do not benefit from the tax-free threshold:
  • SCR 0 to 10,000: 15%
  • SCR 10,001 to 83,000: 20%
  • Above SCR 83,000: 30%
• Non-Monetary Benefits: Taxed at 15%. This includes benefits such as accommodation and utilities. Meal allowances are exempt. The tax is calculated based on the actual cost of the benefit.
• Tax Withholding: Employers withhold income tax from employee salaries and remit it to the Seychelles Revenue Commission (SRC) within 21 days of the end of the month.

Social Security Contributions

• Employee Contribution: 4% of the employee's gross monthly salary is deducted and remitted by the employer to the Seychelles Pension Fund.
• Employer Responsibility: Employers are responsible for deducting the employee's contribution and making the payment to the Seychelles Pension Fund along with their own employer contribution of 5%.

General Information

Seychelles offers a relatively streamlined tax system, simplifying compliance for both employees and employers. The system ensures transparent deductions with mechanisms for employees to verify their contributions. It is crucial for employers to stay updated on the specific rates, thresholds, and regulations by regularly consulting official resources like the Seychelles Revenue Commission. This is crucial for accurate payroll calculations and compliance with the relevant tax laws. Staying informed on the specific rates, thresholds, and regulations pertaining to both income tax and social security is also essential for maintaining compliance with Seychellois employment regulations and tax laws.