Taxation
Key tax measures:
Investment Tax Credit
- Extended to AI and patents
80% exemption
- Applicable to a company holding a Robotic and AI licence
CSG Income Allowance
- Increased across salary bands
Lump sum threshold
- Tax exemption threshold on lump sum increased to Rs3m
Private school deduction
- Tax deduction of Rs60,000 per child per annum
Extension of TASS
- Waiver of interests and penalties
Corporate Climate Responsibility Levy
- Levy of 2% of company’s profits introduced.
Virtual Assets/Tokens
- Exemption on profits/gains.
The tax exemption for virtual assets and virtual tokens can be a game changer to attract investment opportunities through Mauritius.
Corporate Tax
- Partial exemption
- Corporate Climate Responsibility (CCR) levy
- Medical, Biotechnology or pharmaceutical sector
- Exemptions and reliefs
- Tax deduction
- Premium Investor Certificate
- Investment Tax Credit (ITC)
- Captive insurance
Partial exemption
80% exemption now applicable to a company holding a Robotic and Artificial Intelligence Enabled Advisory Services licence, subject to substance requirements.
80% exemption available to a licensed closed-end fund now extended to income from sale of money market instruments or debt instruments.
80% exemption granted to licensed CIS administrator not applicable to administrative services provided by management company to a CIS licence holder.
Personal Tax
- Lump sum tax exemption threshold
- Income tax deduction
- Allowances
- Exemptions and reliefs
Lump sum tax exemption threshold
- The tax exemption threshold on lump sum received as pension, retiring allowance or severance allowance will be increased from Rs2.5m to Rs3m.
Value Added Tax
- Removals, exemptions & extensions
- Services provided by Management Companies
- VAT invoice in foreign currency
Removals, exemptions & extensions
Zero-rated VAT on services provided by a Management Company to:
trusts whose settlor and beneficiaries are non-residents; or
foundations whose founder and beneficiaries are non-residents.
Zero-rated VAT extended to vegetable, fruit and flower seeds, roasted coffee, baby lotions, etc.
VAT exemption on entrance fee to digital art galleries.
VAT exemption on the construction of a purpose-built building for the provision of primary, secondary and tertiary education will be extended to pre-primary and Technical and Vocational Education and Training, with retrospective effect.
VAT exemption on motor vehicles, linked to construction, will be granted to approved contractors engaged in the construction of social housing units under a contract with New Social Living Development, with retrospective effect.
VAT, customs duty and excise duty exemption on the procurement of goods and services for a project where 50% funding is by way of a grant or concessionary loan from a donor organisation.
Diplomatic missions and agents will benefit from VAT exemption or refund on services provided.
Other Taxes
- Property Taxes and schemes
- Excise Duty
- Customs Duty
Property Taxes and schemes
Transfer of social housing units by the New Social Living Development Ltd will be exempted from the payment of registration duty, land transfer tax and tax on transfer of leasehold rights in State land.
Refund under ‘vente en l’état futur d’achèvement’ (VEFA) extended for properties reserved after 30 June 2024 if the deed of transfer is signed and registered not later than 30 June 2025.
Refund under Home Ownership Scheme will be made for properties acquired under ‘vente à terme’ when the buyer pays the purchase price for the property not later than 30 June 2025.
A person contracting a secured housing loan under the home loan payment scheme to construct his residence will continue to benefit from a refund of 5% of the loan amount. This has been extended for loans contracted after 30 June 2024 and for amounts disbursed up to 30 June 2025.
Tax Administration
- Amended return
- Statement of Financial Transactions
- Tax Arrears Settlement Scheme (TASS)
- Communication to e-tax account
Amended return
Where an objection has been made with the MRA against an assessment or a representation lodged with the Assessment Review Committee, an amended return shall not be permitted.
Tax Administration: Value Added Tax (VAT)
- Claim of input tax as from date of voluntary registration
- Time limit for MRA to request information to examine a VAT return
- Change in time limit for MRA to raise an assessment
Claim of input tax as from date of voluntary registration
A person who has voluntarily registered for VAT can claim input tax on goods and services acquired as from the date of his voluntary registration.
Immigration
- Occupation Permit Application
- Work Permit Application
- Repatriation of migrant worker
Occupation Permit Application
Basic monthly salary threshold for professionals reduced from Rs30,000 to Rs22,500.
Introduction of Temporary Occupation Permit of 3 months for professionals with a minimum of 10 years experience to allow them to work pending final approval.
Introduction of 10-year Expert Occupation Permit for those in the wealth management, family office, virtual assets and virtual tokens.
Holders of Residence Permit as Retired Non- Citizens allowed to work without applying for additional Work or Occupation Permit.
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