Mauritius: Direct and indirect tax measures in Finance Bill 2023
Once legislation is approved by parliament and signed by the president, the tax measures would be enacted.
Direct and indirect tax measures in Finance Bill 2023
The Finance (Miscellaneous Provisions) Bill 2023 has been released for consultation, and the draft legislation includes measures announced in the budget speech on 2 June 2023. Read TaxNewsFlash
Once the legislation is approved by parliament and signed by the president, the measures would be enacted. Key measures include:
- Introduction of a number of corporate income tax incentives, ranging from additional partial exemptions to double or triple tax deductions of certain expenditures, in order to boost certain sectors or activities
- Elimination of the incentive tax rate of 5% applicable to banks with chargeable income over MUR 1.5 billion (although the amendment would not apply retroactively from year of assessment 2022/23 as announced in the budget speech)
- Extension of the negative excise duty scheme for one additional year
- Refund of 5% (up to MUR 500,000) under the home ownership scheme and an extension of the home loan payment scheme to 30 June 2024
Read a July 2023 report [PDF 2.4 MB] prepared by the KPMG member firm in Mauritius
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