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Mauritius: Tax measures in Finance Bill 2024 enacted

Finance (Miscellaneous Provisions) Bill 2024 enacted without major changes

August 16, 2024

The Finance (Miscellaneous Provisions) Bill 2024 was released for consultation and subsequently enacted on July 27, 2024, without major changes to the tax measures. 

Key tax measures include:

  • Corporate climate responsibility (CCR) levy
    • Announced in the budget, applied at 2% on chargeable income
    • Applicable to companies, resident sociétés, trusts, and foundations
    • Includes global business licence entities and segment B of banks.
    • Potential reduction in impact for entities eligible for partial exemptions or tax credits (e.g., foreign taxes, investment credits).
    • Effective from the assessment year starting July 1, 2024
    • Applies to entities with financial years ending after December 31, 2023
  • New tax incentives:
    • Double/triple deductions on certain donations
    • Additional 25% tax credit on setup costs for child daycare centers
  • Tax arrears payment scheme (TASS):
    • Extended for another year
    • Offers full waiver of penalties and interest
    • Awaiting Mauritius Revenue Authority confirmation on whether tax assessments raised up to June 30, 2024, will qualify for TASS

Read a July 2024 report prepared by the KPMG member firm in Mauritius

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