Mauritius revenue authority deloitte refers to one or more of deloitte touche tohmatsu limited dttl, its global network of member firms, and their related. Mauritius revenue authority issues guidance regarding. Income tax is payable by residents on nonexempt income derived from mauritius. Mra eservices is a secured online platform offering taxpayers the facility to file tax. Enacted by the parliament of mauritius, as follows part i preliminary 1. Please click here for efiling of return on mra eservices. Mauritius reduces statute of limitations for income tax. Global forum on transparency and exchange of information for. The income tax act 1995 economic development board mauritius. Latest income tax act sections list has been provided for finance people. As from 1 january 2010, the fiscal year will be on a calendar year basis. Sales tax rate in mauritius is expected to reach 15. However, the finance act 2000 has once again amended the regulations bringing back the presumed foreign tax to 80% this change has been effective. If for example, the foreign tax is at a rate higher than the mauritius tax, the surplus foreign tax cannot be credited.
Amended by rates and monetary amounts and amendment of revenue laws act 21 of 2018. This implies that the ciga requirement now falls under the purview of the. The antiavoidance provisions of the mauritius income tax. Mra the income tax act 1995 please refer to endnotes at appendix i page 9 of 288 9 an act to amend and consolidate the law relating to income tax. Mauritius budget 20172018 addressing structural challenges to drive growth diligent implementation of the enunciated measures aiming to boost investment and exports, enhance productivity and efficiency as well as encourage smart technology and practices would be indispensable for mauritius to graduate to a higher growth trajectory. This page provides mauritius personal income tax rate actual values, historical data, forecast, chart, statistics, economic calendar and news. Income tax deemed rate of return on attributing interests in foreign investment funds, 201819 income year order 2019 li 2019204 taxation annual rates for 201920, gst offshore supplier registration, and remedial matters act 2019 2019 no 33. Any tax deducted at source, other than electronically, is required to be remitted by the 20th of the next month. Download the list of sections of income tax act,1961 in pdf and excel format.
Printdownload pdf 212kb income tax act 1994 viewing now repealed. Where individuals enter into a series of purchases and resales of property, the tax authorities may take the view that they are carrying on a trade and assess them to tax accordingly. List of sections of income tax act 1961 download pdf. The income tax act regulations made by the minister under section 76 of the income tax act 1. Income tax act, 2015 9 act 896 4 the income tax payable by a person under subsection 1b is calculated by applying the relevant rate set out in the first schedule to each final withholding payment. General although mauritius has taxing rights over directors fees payable to company directors resident in south africa, such fees are exempt from tax under mauritius tax law. The income tax act regulations made by the minister. These regulations may be cited as the double taxation convention republic of uganda regulations 2003. Mauritius reduces statute of limitations for income tax assessments executive summary in its first budget, mauritiuss new government announced a reduction of one year in the statute of limitations so that an assessment can only be made within four years from the date the annual tax return is submitted. Corporate and personal taxes are embodied under one heading of income tax and are payable by all resident companies and individuals on nonexempt income derived from mauritius and from other sources.
For mauritius, capital gains on sale of spv controlled and. Download income tax laws text book pdf for, mba and. However, there are special taxation regimes for companies operating offshore under the financial services act 2007 supervised by the financial services commission. Income tax the main income tax legislation in mauritius is the income tax act 1995 as amended by subsequent finance acts. Finance act 2018 implementation of new tax regime effective from 1 january 2019 the finance miscellaneous provisions act 2018 was promulgated on 9 august 2018 which contained the tax measures as announced in the budget speech delivered on 14 june 2018. Tax rates in mauritius for 20162017, 20152016, 20142015 tax rates on chargeable income. Nonresidents can own real property in mauritius through the permanent resident scheme prs. The land duties and taxes act 1984 deleted by act no. Any future dividend income of the cfc that is subsequently included in the tax base of the mauritian.
They understand domestic and global tax environments, and work diligently to understand you business, your challenges, your goals and your needs. The changes under the income tax act the act take into account action 5 of the organisation for. Income tax exemptions in mauritius the first mauritian. Mauritius as a tax haven has many opportunities to save on taxes. The mauritius income tax act has recently been amended to grant mauritius tax holidays to corporates licensed by the financial services commission fsc and to individuals who are in employment with specific licensed corporations. Itd income tax act 1995 6 an act to amend and consolidate the law relating to income tax. The main income tax legislation in mauritius is the income tax act 1995 as amended by subsequent finance acts. The tax year 20182019 is from 01 july 2018 up to 30 june 2019. The tax challenges for mauritius revenue authority mra the mauritius revenue authority was created in 2004 by an act of parliament.
Income tax act 58 of 1962 south african government. There is established for the purposes of this act the mauritius revenue. Mauritius issues regulations on substance requirements. The value added tax act 1998 act 21998 date in force. The tax haven of mauritius incorporates different types of offshore companies. Individuals, irrespective of nationality, deriving income from sources within mauritius are subject to mauritian income tax on all such income. Mauritius enacts changes to tax regime for corporations. Taxation of dividends dividends paid by a mauritius resident company are exempt from income tax. Arrangements for relief from double taxation and for the exchange of information new paragraph 5a of section 76 income tax act 1995. Mauritius tax haven in the indian ocean is a tax haven on the rise. Alternative tax dispute resolution regulations 2016. This book deals with the law of taxation or income tax laws. In the longterm, the mauritius sales tax rate vat is projected to trend around 15.
Due to popular demand, we will be running 4 halfday sessions covering various topics incuding corporate tax and vat. Items of exempt income, as provided in the income tax act 1995, have been amended as follows. Short title this act may be cited as the income tax act. Controlled foreign company rule part viii returns, collection and payment of tax 91. Currently, the income tax act provides that a company which is incorporated in. Mauritius enacted the income tax regulations 2018 taxand. Mauritius revenue authority annual income tax return company and trust year of assessment 20162017. The main income tax legislation in mauritius is the income tax act 1995 as. Income tax act rules list 2019 has been provided for tax payers which includes revised and newly added tax rules. Act income tax amendment act 2019 b in subsection 1 by substituting for paragraph af the following af the income of an operator in an industrial park or free zone or other person carrying on business outside the industrial park or free zone who carries on. Interpretation in this act, unless the context otherwise requires absentee means. Part ii of second schedule of the income tax act 1995. Amended by taxation laws amendment act 17 of 2017 from 18 dec 2017.
Income derived from dealings in units and securities is, however, exempt from tax. Subject to section 7 and subsections 2 and 3 of this section, every trust shall be liable to income tax on its chargeable income at the rate specified in part iii of the first schedule. The mauritius revenue authority act 2004 act 332004 proclaimed by proclamation no. Amended by tax administration laws amendment act 22 of 2018. Among the changes brought about by the finance miscellaneous provisions act 2019, global business companies gbcs shall now be required to carry out their core income generating activities ciga in, or from, mauritius, as required under the income tax act. The tax year 20192020 is from 01 july 2019 up to 30 june 2020. Mra the income tax act 1995 please refer to endnotes at appendix i page 8 of 232 8 an act to amend and consolidate the law relating to income tax. The tax year is from 01 july of the current year to 30 june of the succeeding year. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email. For any assistance, kindly phone on mras hotline 207 6010.
With a dynamic local jurisdiction, mastering taxation is crucial. Mauritius is considered as nonresident for mauritius tax. Short title this act may be cited as the income tax act 1995. Global forum on transparency and exchange of information for tax purposes. The income tax foreign tax credit regulations 1996.
Will in mauritius mauritian will inheritance tax laws. Mra the income tax act 1995 please refer to endnotes at appendix i page 6 of 326 6 subpart a pay as you earn paye system 92. The notes at the end of this compilation the endnotes include information about amending laws and the amendment history of provisions of the compiled law. These regulations may be cited as the double taxation avoidance. Income tax refers to the tax you pay directly to the government depending on your income or profit for companieslocal authorities.
Income exemption threshold income year ending 30 june 2016. Mauritius sales tax rate vat 20062020 data 20212022. The income tax act 1995 economic development board. Tax haven mauritius has top quality offshore banking institutions. Apportionment of gratuities and compensation for loss of. Application of act part ii liability to income tax 4. These regulations had been amended by the income tax credit amendment regulation 1997 whereby the presumed amount of foreign tax was increased from 80% to 90% of the mauritius tax chargeable. New regulations made under the income tax act intercontinental. According to section 4, part 1 of the mauritius revenue authority act 2004, the functions of the mra shall be to. Income tax act chapter 470 revised edition 2018 2012 published by the national council for law reporting with the authority of the attorneygeneral. Tax on property income in mauritius global property guide. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. Pursuant to mauritius adhering to the allinclusive framework of the oecd, the country has committed to adhere to the minimum standards as set out in the beps initiative. Mauritius tax rates for 20142015 mauritius income tax.
The consolidated income tax act is available, in a pdf version, under the tax heading on the university of pretoria, laws of. In most respects, the 2001 act inherited tax privileges granted under previous acts, and section 46 of the income tax act 1995 was amended accordingly. Changes to the global business tax regime and constant pressure to adhere to international standards from oecd and eu is impacting the local tax landscape. Download income tax laws text book pdf for 3rd year students. Also for further information regarding exempt income, refer to part ii of the second schedule of the income tax act. The taxation of resident mauritian companies is governed by the income tax act 1995, which is substantially based on uk tax law. Mra the income tax act 1995 please refer to endnotes at appendix i page 10 of 327 10 an act to amend and consolidate the law relating to income tax.
Short title this act may be cited as the value added tax act 1998. Income tax act 2007 no 97 as at 01 january 2020, public. The personal income tax rate in mauritius stands at 15 percent. A taxpayer who gets caught under part vii of the mauritius income tax act is subjected to a corrective measure only in the form of payment of the amount of tax that would have been due in the absence of the avoidance arrangement, but the consequences set out in the same section do not result in any disincentive to the taxpayer that would ensure the prevention of the occurrence of such type of. Where by reason of the provisions of paragraph 1 an individual is a. The mauritius revenue authority act 2004 act 332004. On 28 november 2018, the mauritius revenue authority mra issued a statement of practice sop regarding section 73a of the income tax act the act on the place of effective management poem. Income tax act it mauritius free ebook download as pdf file. The exemption period will be for a period of 5 succeeding income years as from the income year in which the investment was made. Income tax act 1995 and annual finance acts tax treaties. Mar 12, 2018 mauritius enacted the income tax countrybycountry reporting regulations 2018 as an initiative to comply with beps action point. Tax legislation in mauritus 1438 words 123 help me.
The internet version of this act is for information purposes only. Chapter 470 income tax act arrangement of sections part i preliminary section 1. For more information on personal taxation please have a quick read here or on the website of the mauritius revenue authority. South africa signed a new treaty with mauritius on 17 may 20, which will bring about some significant changes for both south african and international investors. This is a compilation of the income tax assessment act 1997 that shows the text of the law as amended and in force on 12 october 2017 the compilation date. The income tax act 1995 consolidated version arrangement of sections part i preliminary section 1. A resident is defined in the income tax act as an individual who is normally domiciled in mauritius unless permanent domicile is outside mauritius, or has lived in mauritius for a period of 183 days or more in an income year or has lived in mauritius for an aggregate period of 270 days in an income year and the 2 preceding income years. It was set up with the objectives of collecting and accounting of all revenues that happen under the revenue law. Enacted by the parliament of mauritius as follows part i preliminary 1.
Moreover, the tax payer can choose to compute the limit either on an item basis or on an overall basis. Tax holidays the exemption is subject to compliance with the terms and conditions of the board of investment. Employers deduct income tax from each salary payments of all individual taxpayers. Taxand mauritius enhances value for clients by focusing on solutions that are innovative, yet practical to implement. These regulations may be cited as the double taxation avoidance agreement bangladesh regulations 2010. The income tax negative income tax allowance regulations 2017. The new treaty still needs to be approved by parliament and published in the government gazette in terms of section 108 of the income tax act no. The tax is required to be deducted at source by the payer when the amount is paid to, or credited to the account of payee, whichever is earlier. The income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. Mauritius personal income tax rate 20042018 data 2019. Chargeability of income that cannot be remitted on accrual. This book is useful for ca, ipcc group 1 students and for b.