121. Mr. Baldwin
asked the Secretary of State for the Colonies at what rate, approximately, Income Tax and excess profits tax are levied in the Seychelles; whether shopkeepers are required to keep proper accounts; and whether the local government is satisfied that the machinery for collection is adequate to prevent wholesale evasion.
Mr. Creech Jones
Income Tax in the Seychelles is levied on a graduated scale and there is no standard rate. As an indication of the rates of tax payable, a single person would pay the equivalent of £6 1s. 2d. on a chargeable income of £200 and £161 14s. 2d. on a chargeable income of £1,000. An Excess Profits Tax of 50 per cent. of the standard profits was in force until 31st December last when it was due to expire. No particular form of accounts is prescribed in the case of shopkeepers; but any taxpayer who fails or refuses to keep books or accounts which, in the opinion of the Board of224W Income Tax Commissioners are adequate for income tax purposes, may be assessed for tax by the Board according to the best of its judgment. The Governor has for some considerable time been dissatisfied with the adequacy of the machinery for tax collection. One of the main problems has been the difficulty of obtaining trained staff, but the appointment of an experienced officer is now contemplated which it is hoped will lead to an improvement.