(Seychelles News Agency) - Seychelles is exploring how the United Nations Sustainable Development Goals (SDGs) can be achieved through strategic taxation policies and introducing a pioneering model called the SDG Taxation Framework (STF).

This is being done through a five-day workshop being held at L’Escale Resort and Marina with the assistance of the United Nations Development Programme (UNDP).

According to the UNDP, the STF offers diagnostic evaluations and tailored support to optimise the linkage of a country’s tax system with the SDGs.

The Seychelles Tax Framework (STF) will aim to include sustainability into global fiscal policy by directing development inclusively and sustainably while providing funding for it.

In his opening address, the Minister for Finance, National Planning and Trade, Naadir Hassan, said the 2030 Agenda for Sustainable Development outlines a vision for a better world, built on the pillars of peace, prosperity, and environmental sustainability.

"Achieving these ambitious goals requires not just political will but also innovative policy strategies. This is where taxation plays a pivotal role. Taxes are more than a source of revenue; they are a powerful tool for shaping economic and social policies, and for promoting equity and justice,” he pointed out.

Hassan said that the STF is designed to integrate sustainability into the fiscal policies of governments worldwide, “ensuring that our tax systems not only fund development but also drive it in a direction that is inclusive and sustainable.”

He also talked about the Seychelles National Development Strategy 2024-2028, recently launched in April, which is a comprehensive plan for Seychelles' progress, emphasising the need for resilient economic structures, environmental sustainability, and social inclusivity.

“The STF will play a crucial role in supporting this strategy by providing a structured approach to mobilise resources effectively. By aligning our taxation policies with the SDGs, we can enhance our capacity to generate revenue, which in turn will support the implementation of various development initiatives detailed in our national strategy,” he added.

Through the STF, it has been noted that it will not have any major effects on taxes in the country, as it will mostly affect tax policies, ensuring that adequate funds are available for essential community investments in infrastructure, education, healthcare, and other critical sectors, thereby promoting sustainable development and enhancing overall societal well-being.

During the workshop,  experts in the field will share their insights and experiences on implementing tax policies that align with the SDGs, while participants will explore case studies from countries that have used taxation to drive sustainable development.

Hassan said, “Let us not forget that achieving the SDGs is a collective effort. Governments, international organisations, the private sector, and civil society all have roles to play. By working together and leveraging the SDG Taxation Framework, we can create a world where economic growth goes hand in hand with social inclusion and environmental stewardship.”