Using the Business Activity Statement (BAS) to report all your tax payments


04-March-2013

One of the programmes under this objective is to make it easier and cheaper for taxpayers to comply and one way to do that is to have a single and simple form for the payment of all taxes.

As such, SRC introduced the Business Activity Statement commonly known as BAS form in January 2010. Upon its introduction, the BAS form could only be filled in manually. However later in 2011, SRC went one step further and produced an electronic BAS form to facilitate the electronic calculation of tax liabilities. But now with more businesses having access to the internet, SRC in collaboration with DICT has worked on a web-based BAS form to allow for on-line filling which will soon be accompanied by on-line payment in the near future, thereby making it easier and cheaper still for taxpayers to comply.

It is important, however, that taxpayers have a clear understanding of what the BAS form is all about and how to use it. As such this week we will look at what is a BAS form and how to complete it.

What is a Business Activity Statement (BAS) form?
The BAS form is a reporting form which details the monthly tax owed by the business. It allows taxpayers to report and pay for a range of taxes on one statement making it easier to report information and remit payments. The BAS is designed for convenience. You only need to lodge one BAS form per month for all your tax payments.

What liabilities should be reported on the BAS form?
The following tax liabilities should be reported on the BAS form:
• Income and Non-Monetary Benefits Tax
• Value Added Tax (Vat)
• Excise Tax
• Pay As You Go (PAYG Withholding)
• Corporate and Social Responsibility (CSR)
• Tourism Marketing Tax (TMT)
 
Each taxpayer/business is required to provide his personal identification details when completing the BAS. It is important to note that all these taxes should be reported on one BAS form only.

Income and Non-Monetary Benefits Tax
The Income Tax is a tax paid by employees on their income while the Non-Monetary Benefits Tax is a tax paid by employers. The number of Seychellois and non-Seychellois employees should be entered in the relevant boxes. The number of full-time, part-time and casual employees should also be entered in the appropriate boxes. The total emolument paid for both non-Seychellois and Seychellois employees including those employed under a specific programme or project should also be entered in the relevant boxes. In addition, if there is any non-monetary benefits tax being paid by the employers, it should be entered in the appropriate box including any bonuses liable to income tax. If the employer is paying any fixed tax for his/her employees, this should also feature on the BAS form. A copy of the payroll should be attached with the BAS form upon submission.

Value-Added Tax (Vat)
Vat is a form of consumption tax which is levied on both goods and services and is collected at various stages of production and distribution. Vat is applicable at the point of entry on all goods imported into the country (unless an item is specifically exempted).
 At the point of sale, a Vat-registered business is required to charge Vat on all goods (unless an item is exempted). Vat is charged on all services provided by a business where that business is registered for Vat (unless the business providing the service is exempted)
Excise Tax
Excise Tax is levied on the importation of some goods and on the domestic production of some items.  Excise on imports applies at the time of imports and is reported on a Bill of Entry whereas Excise on domestic production is to be remitted on the BAS form. There are two categories of domestic production to which Excise is levied upon and that is tobacco and alcohol. It should be noted that if you are not involved in the domestic production of tobacco or alcohol, then you do not need to complete this part of the form.

Pay As You Go (PAYG)
The PAYG is a method whereby the taxpayer pays his/her withholding and/or installment obligations.
You only need to complete the PAYG component of the BAS if the following applies:
• you have paid a dividend to a non- resident during the reported period;
• you have paid a royalty to a non-resident during the reported period;
• you have paid an amount of interest during the reporting period to which withholding applies;
• you have withheld an amount from a payment to a specified business;
• you have other withholding tax payments; or
• you have been notified to pay a monthly PAYG installment for business tax.

The “Summary” section
The summary section adds it all together. Simply add up all your liabilities from the various sections of the BAS form to obtain a grand total. Any arrears of tax, penalties or other amounts due to SRC should be included in the ‘other payments’ field in this summary.

When and where do I submit the BAS form?
The BAS form has to be submitted along with your payments no later than the 21st day of each month following the month in which the transactions have occurred. It should be noted that if payment is not paid on time penalties will apply.  The BAS can be lodged at any of the SRC offices on Mahé, Praslin or La Digue.
N.B: please note that if you did not record any transaction during one (1) month you still need to lodge a NIL return.

For more information: 
Should you require further information you can contact Seychelles Revenue Commission on 4293737 or e-mail us at This email address is being protected from spambots. You need JavaScript enabled to view it. . A copy of the BAS form (manual and electronic) and guide is also available on our website (www.src.gov.sc).

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