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How to Open a Pre-Payment Account with SRC?

All goods imported into the country have to go through Customs procedure for a proper assessment. Therefore imported goods are subject to certain legal and procedural formalities, such as declaration, submission of relevant documents, and payment of duties and taxes, before permission for clearance is given by Customs.

In order to facilitate quick clearance of goods under customs control, the Seychelles Revenue Commission (SRC) is encouraging all importers or clearing agents to open a pre-payment account with Customs. By having such an- account importers and clearing Agents will be able to make their payment at Customs faster and in so doing help to speed up the clearing process especially for importers or clearing agents requesting for Direct Delivery (Urgent Release).

What is a pre- payment account?
A pre-payment account is a facility introduced at Customs to speed up clearance of goods whereby importers and clearing agents can deposit money with SRC for automatic payment of their tax liability at Customs. Payment through the pre-payment account number is safe and secure as it is directly linked to the importer or clearing agent Taxpayer Identification Number (TIN).

The management of the prepayment account is the responsibility of the clearing agents or importers. They must ensure that they deposit sufficient funds in the account, in advance, to cover any payment of tax liability for the imported goods.

Clearing agents and importers requesting for direct release of ‘Urgent Goods’ or consignments are strongly advised to open a prepayment account which grants the automatic payment of duties and taxes after completing the process for direct release to facilitate the clearance of their consignments.

How to open a pre-payment account with SRC?
Any importer or clearing Agent who wishes to open a pre-payment account to facilitate the clearance of their goods with Customs can collect a Pre-payment Account Opening Form at the seaport or airport Customs offices or can download the form here

The form needs to be completed and submitted to the Customs office at seaport or airport for approval, which is granted by the Assistance Commissioner of Customs. The following information must be provided on the form:
  • Name and address of business
  • Taxpayer Identification Number (TIN)
  • Telephone and email
  • Name of the person requesting for the opening of the pre-payment account.
How to effect payment using the pre-payment account?
When making a declaration in the ASYCUDA World the importer and Clearing Agent, having a pre-payment account with SRC, must select an account number in Box 48. The tax liability will be deducted automatically from the prepayment account if there are sufficient funds and a receipt will be generated. The importers and clearing Agents having a pre-payment account will not have to come to Customs offices to make their payment.

When there are insufficient funds in a pre-payment account ASYCUDA World will send a message to inform the importer or Clearing Agent that they will need to deposit money in their account at the cashier either at the seaport or airport.

The importer or clearing Agent can request a report of their account summary to check their balance and payments made. It is important to note that the amount of money to be maintained in the pre- payment account will vary and depend on the amount of transactions (imports) done by the account holder.

For more information
You can contact Seychelles Revenue Commission on 4293737 or email us at commissioner@src.gov.sc for more information about the CMA 2011. The CMA and its regulations are available here .

Website Published Date: 29th August 2014

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