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MAURITIUS FINANCE ACT 2020: KEY AMENDMENTS
The Finance (Miscellaneous Provisions) Bill 2020 (Bill) was introduced to the parliament on 7 July 2020. After being subject to parliamentary debates, The Finance (Miscellaneous Provisions) Act 2020 (“the Act”) was voted with amendments on 4 August 2020 and received the President’s assent on 7 August 2020. The Act provides…
Mauritius: An Attractive Lifestyle Destination, Opens Door To New Arrivals
The COVID-19 pandemic has not only been a health crisis, but has also affected society and the economy in most countries in varying degrees. The President of Mauritius assented to the Finance (Miscellaneous Provisions) Act 2020 (“Finance Act”) on 7 August 2020 which is geared towards a steady recovery of…
Mauritius Double Tax Treaty Update July 2020
Mauritius Zambia Treaty suspended The Zambian Cabinet has announced on the 22 June 2020 that the treaty with Mauritius has been terminated. However, they also announced the initiation of negotiations to negotiate a new agreement which will have share taxing rights and anti abuse clauses. In terms of the treaty…
FSC Mauritius – Regulatory relief on filing and reporting obligations
Further to the outbreak of the Covid-19 pandemic which has impacted on several local and international industries, and in order to alleviate regulatory burden on Licensees during such global crisis, the FSC has decided not to charge administrative penalties for late filing and reporting obligations due for below-mentioned periods. The…
Mauritius Budget 2020/21 Brief – Residence & Occupation permit holders
The budget 2020/21 has been presented by the Minister of Finance, Economic Planning and Development, Dr the Hon. Renganaden Padayachy, yesterday, 4 June 2020. The budget 2020/21 has been presented under exceptional circumstances and is considered to be momentous in the economical history of the country. It can be considered…
As the spread of Covid-19 continues…
As the spread of Covid-19 continues, we wanted to reassure you that the wellbeing of our clients and employees will be at the forefront of everything we do. We will of course continue to adhere strictly to Government advice in all the jurisdictions in which we operate, whilst remaining fully…
THE IMPACT COVID-19 ON TAX RESIDENCE STATUS
The OECD has taken stock of cross border tax issues that are likely to arise due to the current pandemic and has provided its guidance on how to best deal with those issues considering international tax treaty principles. We also investigate the UK’s statutory residence test (‘SRT’) which has been…
South African Budget 2020: Exchange Control Changes
For as long as we can remember exchange control has been part of every South African’s life. For years they were told that contravening these was a dire crime worthy of draconian punishment and perpetrating severe economic consequences on the South African economy. Now apparently, it is the controls themselves…
Mauritius E-Commerce tax holiday
E-commerce explained is a transaction whereby the buyer and the seller complete transactions online. In early 2019, the Prime Minister Pravind Jugnauth mentioned in his budget speech that the government is committed to fast track “the country’s move to an age of digitally enabled economic growth”. As such, the government…
Tax Treaty between Ghana and Mauritius
On 22 June 2018, Ghana’s parliament approved the ratification of the pending income and capital tax treaty with Mauritius which was signed on 11 March 2017, and which is the first of its kind between the two countries. Based on information released by the Mauritius Revenue Authority, we understand that…