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Lodgment of Partnership Business Tax Return

Effective January 1, 2010, the Business Tax Act 2009 made specific provisions regarding the treatment of partnership returns from the tax year 2010 onwards, as follows:
  • Registration requirement
  • Partners’ business tax return
  • Partnership liability
  • Partners’ liability

Registration Requirement
All partnerships are required to register with the Seychelles Revenue Commission (SRC) within 14 days after the date on which the business commences.

When registering, the partnership is also required to provide the SRC with the following:
  • Full name and address of each individual partner
  • The national identity number of each partner
  • Each partner’s share in the partnership and in any other partnership
On registration, the partnership business will be allocated a taxation identification number (TIN). Each partner also needs to register individually as each partner will be taxed on their share of the profit. Each partner will be allocated a TIN, which they will be required to use whenever they have dealings with SRC.

Partnership’s business tax return
Like any other business entity, a partnership is required to lodge a business tax return at the end of each year. However, the partnership business itself will not be taxed. Rather, the taxable income of the partnership will be divided among the partners based on their share in the partnership and each partner will be taxed accordingly. The partnership business will have to complete the self assessment business tax return and the supplementary pages for partnership business tax return.

Partner’s business tax return
Each partner will also be required to lodge a self assessment business tax return declaring their distribution of profits they received from their share in the partnership and any other assessable income they have made. Tax will be calculated on the taxable income declared in each of the partner’s self assessment business tax return.

Partnership liability
In line with the Business Tax Act 2009, for the tax year 2010 onwards registered partnerships will no longer be liable for any business tax.

Partners’ liability
The partners in the partnership will be responsible for lodging a business tax return declaring their share of profit.

Partners with only one business activity and only one source of income will be taxed on the share of partners’ profit based on the self-assessment principle and at the rates stipulated in the First Schedule of the Business Tax Act 2009 as per below:
  • 0% on the first R150,000 of taxable income
  • 18.75% between R150,001 and R1,000,000 of taxable income (applies for 2010 business tax return)
  • 33% on the remainder
Partners with more than one source of income will need to self-assess based on total income received at the same rates as above.

For more information
Please call us at 293735 or send us an e-mail on for more information on partnership.
Contributed by the Seychelles Revenue Commission

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