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Mauritius
Our newsletters cover a variety of tax and financial topics relevant to both individuals and corporations. Make sure to subscribe to our mailing list to get the latest insights on the tax landscape.
On 9 March 2023, the Assessment Review Committee (“ARC”) issued its ruling in favor of the Applicant with regards to its claim of capital allowance on the assets it acquired.
The Mauritius Revenue Authority (“MRA”) has launched the e-Invoicing project which aims to digitalise and enhance VAT compliance in Mauritius. The e-Invoicing project follows the recent amendment brought to the Value Added Tax Act (“VAT Act”) on e-Invoicing System introduced since 2 August 2022.
Value Added Tax (“VAT”) is charged on any taxable supply of goods or services made in Mauritius, by a taxable person in the course or furtherance of any business carried on by him
The individual income tax return for the period from 1st July 2021 to 30th June 2022 should be submitted to the Mauritius Revenue Authority (“MRA”) and payment of any tax due should be settled by Monday 17th October 2022.
The Income Tax (Amendment) Regulations 2022 (“the Regulations”) were gazetted on 6 April 2022 and brought clarity on the below: 1. Substance conditions to be satisfied by a company operating an E-Commerce platform. 2. The definition of core income generating activity for an Investment Dealer. 3. Specialised software and systems which qualifies for double tax deduction.
On 31 December 2021, the Mauritius Revenue Authority (“MRA”) released a communique to inform employers of their obligation to contribute to the PRGF as from the month of January 2022.
The Finance (Miscellaneous Provisions) Act 2021 (“FA 2021”) brought important changes to the taxation regime of trusts and foundations in Mauritius. These changes came as a surprise to the financial services industry since they were not announced in the Budget Speech 2021/2022, creating a degree of uncertainty for those trusts and foundations which so far could submit a declaration of non-residence and be exempt from tax in Mauritius.
The Finance (Miscellaneous Provisions) Act 2021 (“FA 2021”) received Presidential assent on 05 August 2021. This newsletter highlights the key fiscal measures brought to the Income Tax Act 1995 (“ITA”).
TASS was introduced for taxpayers and/or employers having outstanding tax arrears as at 31 October 2020. Where the tax arrears are settled on or before 31 December 2021, the taxpayer will benefit from 100% waiver of penalties and interest included in the tax arrears in respect of Income Tax Act 1995, Value Added Tax Act and Gambling Regulatory Authority Act.
In his much anticipated second Budget, the Minister of Finance, Economic Planning and Development set the tone for a stronger and more resilient future for the country. In many ways, it felt like the dawn of a new era – one where Mauritius will have to reinvent itself in order to achieve sustainable growth in a post-Covid world. From the announcement of a new growth sector in the Green energy industry, to the steps identified to make the country more attractive to foreigners, the focus has been placed on measures that, if successful, could indeed transform the landscape in years to come.
