(Last updated: 9 Sep 2013)
Taxation
Goods and services imported and supplied in Mauritius are charged with a Value Added Tax of 15 per cent, which is refundable when the product is exported. Exemptions include basic foodstuffs; animal feeding stuffs (other than prepared pet food); printed books, brochures, leaflets and periodicals; water and ice, not treated or mixed with any other goods; medicines, fuels and fertilisers.
Income tax
Mauritius runs a self-assessment system based on the residence concept. A person resident in Mauritius is liable to tax on the worldwide income derived by that person. A non-resident is taxed on income derived from sources in Mauritius. However, earned income derived from overseas by an individual resident in Mauritius is taxable to the extent it is remitted to Mauritius.
Income tax is payable on income derived in the preceding year. The fiscal year runs from 1 January to 31 December.
Corporate tax
Bodies of persons subject to corporate tax are companies, trusts, trustees of unit trust schemes and non-resident sociétés (partnerships).
The tax rate on chargeable income of companies for year of assessment commencing on 1 Jan 2013 is 15 per cent.
Although many financial centres have flourished without any tax treaties, Mauritius has focused the development of its offshore centre on the use of its growing network of Double Taxation Agreements. The expanding network of Double Taxation Treaties reinforces the seriousness of Mauritius as a tax efficient offshore jurisdiction for structuring investment abroad. No agreements exist with Australia, other than the Tax Information Exchange Agreement (TIEA) signed in December 2010.