In spite of this dubious absentee status, the owners have been granted onshore business licensing to operate hire craft vessels as a business.
The status which was suppose to be reserve for only bona Fidel Seychellois companies, has now become the preferred method of super rich super yacht owners to avoid taxes in Seychelles, contribute nothing to the economy, and enjoy the open sea policy in place when it suits them.
Minister of Finance needs to set up a committee involving the private sector to audit the veracity, credibility of these licenses.
In cases of clear attempts to defraud the government of Seychelles of taxes, the boats should be seized and placed on auction to recover lost revenues that cause the incidence of taxation in Seychelles to be so high and make people suffer with VAT 15 percent.
Jean Paul Adam is a fine gentleman. Unfortunately under his watch, he will have to grow some teeth fat to deal with the mess left behind by Pierre Laporte.
More on this issue of taxation next week.
Sesel Pou Seselwa!
May God Bless All Freedom Loving Seychellois!
9 comments:
As money laundering,,it is about avoiding taxes in their home country.....An declared assets .Of course they chose Seychelles..not Maurituis,Reunion,maldives..because Seychelles is International communitee and International,criminals as Tax Haven in Africa...the illegality is so lucrative for those invloved that Pl refused to stop such illegal practices.
But the tax burden is increased on Citizens instead of being lessen. This is the madness of PL system. Corruption must exist since they do nothing about what is clearly fraud at the inception of license application. The practice is obviously highly prolific that one can say the fraud is systematic.
Christopher Gill
This practices one among the many tricks use by foreign to hide their fortune and assets for their countries! Tax auzhority.The practice on Seychelles shores is unfortunately,not limited to luxury yachts,Villas owed by foreigners are also use not as private utility,but is rented to tourists,and the deals and money for rent is collected abraod,and when zhe person arrival to Seychelles,zhe tell the Immigrant officiers that they a family member friend of this person or zhat person(zhat foreigners oeing villas in Seychelles)to disguise the crimes,.,Another example,is for instance,RAFFLED on Praslin.Raffles is supposedly registered and licrnced as a five Star hotl,but in reality,on Raffles WEDSITE,the owner who happened to be zhe same Shrik who wanted to destroy Cape Termax natural beauty,coast,environment...who advertise and offer villas a private villas zhat could be buoght,lease,rent for life,and wizh automatic Permanrnt Residencx Card.......It is not only Raffles,but manx other of thosed five star hotels.....this id you put it,helps destroy Seychelloid businesses but also help keeping seychellois in chronic poverty and stagnated economic growth...pl should first stop its illegal praczices and zhen put regulations in place to stop zhese illegal ,unlicenced and registered black businesses.
Jeanne D!Arc
Tools to hide funds, launder money. Yachts , villas , houses etc.......
In the end the country hurts, the people hurt, PL scratch their heads and ask what is going on and what is wrong with the economy.
Eden Island alone has over six hundred villas on rental.
Where is the money?
The question is what is PL doing to insure that money is placed into the system to reduce the tax burden on everyone else.
This proposal was put forward by the Seychelles Chamber of commerce and we are waiting on government to give us a serious answer.
A limted Tax liability should surely be set up for..Non Permanent Resident having business connection with Seychelles,that means pay tax from revenues generate by the business the operate in Seychelles.The problem with pl is either these illegal businesses is also profitable to pl,or it is simply pl,s economic literacy.
Of here,the examples given,touch foreigners,but we could have mentioned also,these pl cronies,who can afford,who goes around the country buy all government land on sale...not to build houses for their family members...but to then rent these houses to:EXPATS,GOP WORKERS ...In others words,they are opearting housing rental business without paying a licence,Tax on the revenue made....They operate literally as guest house(with the different that these houses are oftem rented for years)..and pl seems to unofficially encuorage,such destructive practices. The point is,if u want to use ur house as a rental asset,then its fall in the category of a normal business,thus business must be registered,licenced,tax collected, .else is black market pl..millions of revenues lost.
We need sustainable development,and one way to achieve that,is by having sustainabl businesses ....those licenced,who pay taxes etc...pl. and act now,jenpa.
Pl cronies,going around and allow to by all govt land they can ,build houses,not their family members,but foe rent to Expats,GOP workers.....that an unlicenced business...which needs to be also licensed,and on which Tax should be collected.
Pl is in dire need of money,i.stead of sucking ordinary Seychrllois and businesses,plus demanding on foreignbaid...should start fixing the mess it,created.There are millions of dollars loss .....by doing so,pl would its govt revenues,whichvwould allowchim to psy part of our astronomic foreign debt,i.crease,public servants salary,which would give purchase powervtovseychrlloid,it help reduce state organized corruption,,provide ginancial helpvto young new innovative entepreneurs,levy the mutiple tax burden on both orginary seychellois and businesses.and finally get us out of economic stagnation....which has bern lasting too long
The new. Minister of Finance must make cronies pay taxes. The whole country should support this effort. The more cronies pay, the less the people pay.
As well as stopping unlicensed businesses such as those cronies buying all government to build houses to then rent with Expats,GOP.....All businesses should be registered,licensed and pay their taxes.........If they want ot be rentalhouse rental propriators then apply for a license.....These goes to illegal boatcharters,taxis,houses,and all other businesses being done without license etc...
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