{"id":10344,"date":"2022-07-14T12:25:23","date_gmt":"2022-07-14T12:25:23","guid":{"rendered":"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya"},"modified":"2022-07-14T12:58:36","modified_gmt":"2022-07-14T12:58:36","slug":"new-solid-tax-system-for-next-twenty-years-by-patsy-canaya","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya","title":{"rendered":"New, solid tax system for next twenty years \u00a0 By Patsy Canaya"},"content":{"rendered":"

Africa-Press – Seychelles. <\/strong><\/span>The Seychelles Revenue Commission (SRC) has announced that it is introducing a new tax management system (TMS) to automate and modernise its processes.<\/b><\/p>\n

Speaking at a press conference at the SRC\u2019s headquarters at Maison Collet yesterday afternoon, the SRC\u2019s deputy commissioner general, Fred Morel, said the new web-based system replaces the one dating back to 2010, and it is being developed in phases, with the first phase, which included mostly planning and documentation, completed in December last year.<\/p>\n

Mr Morel said SRC has now completed 70 percent of the second phase, which will see the activation of the registration module by September 2022, allowing sole traders, companies and partnerships to register their businesses online.<\/p>\n

The third phase will be in May next year and will see the activation of the filing and payment processes.<\/p>\n

The project, which started last year will be done over a three-year period, and once completed in 2024, will allow taxpayers to file their tax return, process their tax payments and access their records at a faster pace.<\/p>\n

According to SRC, the new system will address past operational challenges, improve service delivery and efficiency as well as ensure the company achieves one of its objectives which is to become a paperless administration.<\/p>\n

Mr Morel said an area which will be addressed is revenue leakage. Although he could not state how much was being lost annually, and by how much, the new TMS will increase revenue collection.<\/p>\n

Mr Morel explained the system will allow SRC to use third-party information to zero in on those not paying their taxes.<\/p>\n

\u201cWe are following the best international practices, which allows revenue institutions to use third-party information to monitor tax returns that are lodged, and payments that are made, so that we can reconcile these information, identify the defaulters, and ensure they honour their tax obligations,\u201d explained Mr Morel.<\/p>\n

Mr Morel said the new system will be a robust one for up 20 years. \u201cWe want this system to be a solid one for the next twenty years, however we will be able to incorporate any changes as and when they happen during that period, for example make the necessary changes if there are any amendments to the tax law,\u201d he added.<\/p>\n

The project is costing \u20ac3.5 million funded by the 11th European Development Fund (EDF), under the long-term technical assistance to support the Economic Partnership Progamme (EPA) implementation in Seychelles.<\/p>\n

It is being implemented by GOPA Worldwide Consultants, and its representative, Andre Schoonbee, the TMS Project Team lead, described the platform as a transparent one.<\/p>\n

\u201cIt is a public user-friendly system that is reliable and transparent, built on international best practices and customised for the environment of Seychelles,\u201d said Mr Schoonbee.<\/p>\n

To streamline its processes, the SRC has also introduced new registration forms to facilitate the enrollment of business at all its premises on the three main islands. It is continuing with its exercise but has now increased the number of registration forms from one to three.<\/p>\n

According to its director for compliance and policy, Roseline Lepathy, this will enhance its data collection and allow businesses to register according to their entity type namely individual, partnership or company registration.<\/p>\n

\u201cThis will enable SRC to request new and specific information according to the entity which further facilitates the registration process from our end,\u201d she said.<\/p>\n

The registration forms, identifiable in yellow colour for sole traders, blue for companies and green for partnership, which are already in use at SRC offices, will also be available on its website soon.<\/p>\n

For More News And Analysis About Seychelles<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Seychelles. The Seychelles Revenue Commission (SRC) has announced that it is introducing a new tax management system (TMS) to automate and modernise its processes. Speaking at a press conference at the SRC\u2019s headquarters at Maison Collet yesterday afternoon, the SRC\u2019s deputy commissioner general, Fred Morel, said the new web-based system replaces the one […]<\/p>\n","protected":false},"author":84,"featured_media":10343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[234,268,233],"class_list":["post-10344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-seychelles","tag-seychelles"],"yoast_head":"\nNew, solid tax system for next twenty years \u00a0 By Patsy Canaya - Seychelles<\/title>\n<meta name=\"description\" content=\"The Seychelles Revenue Commission (SRC) has announced that it is introducing a new tax management system (TMS) to aut ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New, solid tax system for next twenty years \u00a0 By Patsy Canaya\" \/>\n<meta property=\"og:description\" content=\"The Seychelles Revenue Commission (SRC) has announced that it is introducing a new tax management system (TMS) to aut ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya\" \/>\n<meta property=\"og:site_name\" content=\"Seychelles\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-14T12:25:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-14T12:58:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/seychelles\/sites\/30\/2022\/07\/postQueueImg_6-62d012e509c81.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"New, solid tax system for next twenty years \u00a0 By Patsy Canaya\",\"datePublished\":\"2022-07-14T12:25:23+00:00\",\"dateModified\":\"2022-07-14T12:58:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya\"},\"wordCount\":606,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/seychelles\/sites\/30\/2022\/07\/postQueueImg_6-62d012e509c81.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Seychelles\",\"Seychelles\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya\",\"url\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/new-solid-tax-system-for-next-twenty-years-by-patsy-canaya\",\"name\":\"New, solid tax system for next twenty years \u00a0 By Patsy Canaya - 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