Yes, if it earns Seychelles-sourced income. Since the 1st January 2019, a Seychelles IBCs is subject to Seychelles Business Tax on its net income (profit) for a fiscal year. If it does not have Seychelles-sourced (net) income, there would be no tax liability in Seychelles, and until an IBC does so or expects to, it does not have to register with the Seychelles Revenue Commission. Note that in certain circumstances, particularly where an IBC is part of a multi-national group, foreign-derived passive income may be deemed to be Seychelles-sourced if substance requirements have not been met. IBCs that are or will be part of a multi-national group and which will therefore be covered by Seychelles substance rules (called “covered” companies) must obtain guidance from a tax professional as early as possible e.g. during the setup phase.
Seychelles business tax is charged at 15% on the first million Seychelles Rupees of net income (profit), and 25% on the remainder.