Chamber meets finance minister


28-January-2013

Also present at the meeting, held at Liberty House, were representatives from the Ministry of Finance, Trade and Investment, Seychelles Revenue Commission (SRC) and Seychelles Investment Board.

The aim of the quarterly meeting is to get updates from the Ministry of Finance, Trade and Investment on current and new economic policies and legislation that are being undertaken; put forward concerns from the business community with the goal of improving the business environment in Seychelles.

The points discussed were the implementation of Vat (Value Added Tax) and its impact on various sectors, status of investment coming into the country, the implementation of the Corporate Social Responsibility tax and tourism tax and lastly the 2013 budget and its impact on inflation and exchange rates.

The main focus was on notional credit and implementation of Vat.
Explanation given by SRC made the Vat system clearer and the SCCI requested the SRC to kindly give the same explanation on SBC television so that it may reach both consumers and suppliers.

The SRC has assured the SCCI that it will work closely with the organisation and its members to shed more light on the system.

SCCI vice-chairman Dolor Ernesta said: “The SCCI as the representative of the private sector remains engaged to work closely with private businesses, the Ministry of Finance, Trade and Investment, the Seychelles Revenue Commission and other relevant authorities to ensure the country goes through a smooth transition from GST to Vat.”

The first weeks following the introduction of Vat have proven a challenge for the businesses, hence, the SCCI in collaboration with SRC is organising a meeting for its members to ensure all remaining concerns with regards to Vat are clarified.

The SCCI as the representative of the private sector remains committed in its mandate to the business community and will do its utmost to ensure that its members get the necessary support with Vat and other issues relating to business.

Contributed by the SCCI

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