The Minister for Finance, Economic Planning and Trade, Naadir Hassan, will be in the National Assembly this week to present amendments to two bills:
• Central Bank of Seychelles (Amendment) Bill, 2021 – (Bill No.23 of 2021)
• Revenue Administration (Amendment) Bill, 2021 – (Bill No. 24 of 2021)
The Central Bank of Seychelles (Amendment) Bill, 2021, seeks to amend sections 29A and 41 of the Central Bank of Seychelles Act, 2004 (Cap 26).
“The purpose of the amendments is to extend the period of loans, advances and rediscount made by the Central Bank to Financial Institutions from 3 years to 8 Years and to clear the ambiguities that exist in section 41.”
Whereas the Revenue Administration (Amendment) Bill, 2021, seeks to introduce a temporary amnesty programme for taxpayers who are in arrears to regularize their tax affairs by waivering penalties and a percentage of interest accrued and to give the Commissioner General of SRC the power to waive interests.
The National Assembly will also vote to ratify the SADC Agreement on Assistance in Tax Matters.
Source: Ministry of Finance, Trade and Blue Economy
