Seychelles signs DTA agreement with State of Guernsey |04 February 2014

Seychelles and the State of Guernsey have signed an agreement for the avoidance of double taxation (DTA) and prevention of fiscal evasion with respect to taxes on income.

The agreement was signed on behalf of the Republic of Seychelles by its high commissioner to the United Kingdom and Northern Ireland, Marie-Pierre Lloyd and on behalf of the State of Guernsey by the Minister for Treasury and Resources, deputy Gavin St. Pierre.

The agreement, signed on Monday last week, provides for certainty with regards to taxes payable on incomes generated from investments made between the two countries.

It also provides an inducement to nationals of both countries to focus their attention on increasing trade and investment opportunities.

The signing of this agreement will also further strengthen the existing good relationship between Seychelles and the State of Guernsey.

Both sides have expressed their wish to explore more possibilities of expanding bilateral cooperation in other fields.

The State of Guernsey has expressed much interest in the concept of the Blue Economy, noting that in 2012 Seychelles had spearheaded the concept.

The State of Guernsey has also shown interest in oil exploration in Seychelles and SOLAS.