Seychelles has launched its third Tax Inspectors Without Borders (TIWB) programme, a joint initiative of the OECD and UNDP, designed to strengthen the Seychelles Revenue Commission’s (SRC) audit capabilities in the complex arena of transfer pricing. Two experts from the Egyptian Tax Authority are now on the ground, providing hands‑on technical help to improve taxpayer compliance and boost domestic revenue mobilisation.
The one‑year programme, which kicked off virtually on Tuesday, focuses on transfer‑pricing audits—a specialised field where multinational companies shift profits between jurisdictions to minimise tax bills. For a small open economy like Seychelles, which hosts a growing number of international businesses, mastering these audits is crucial to protecting the treasury.
Egypt’s tax authority is among the most experienced in Africa in tackling transfer‑pricing challenges, having refined its techniques through years of dealing with large cross‑border corporations. Their experts will work side‑by‑side with SRC staff, transferring knowledge and best practices that can be applied long after the programme ends.
This capacity‑building effort comes as Seychelles seeks to broaden its tax base without stifling investment. The SRC has already made strides in digitalising collections and improving transparency; now it aims to close the loopholes that sophisticated companies sometimes exploit. If successful, the TIWB partnership could add millions of rupees to the national coffers—funds that could be redirected toward social programmes or infrastructure upgrades.
