The Seychelles Ministry of Finance, Economic Planning and Trade has announced a new "Pay As You Earn" (PAYE) scheme for taxpayers under the presumptive tax regime with turnover of up to SCR 1 million. The PAYE scheme includes the payment of tax at the rate of 1.5% on monthly revenue that will be credited and offset when the annual presumptive tax return is filed. The standard presumptive tax is 1.5% on annual revenue. The PAYE scheme is being first implemented as a pilot project for 2022, with no penalties for failing to pay in a particular month.