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Mauritius: Living There - Tax Issues

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Living There

INDIVIDUAL TAXATION

Residents are taxed on their worldwide income. The fiscal year in Mauritius runs from 01 July to 30 June.

A resident is a person whose domicile is in Mauritius, excluding a person living in Mauritius for a temporary purpose, or present for less than 183 days in one tax year, or less than 270 days in three tax years.

INCOME TAX

As of 01 July 2008, a flat tax rate of 15% will be applied on all taxable income. Taxable income is calculated by deducting expenses, losses, and debts incurred in the production of income from the gross income.

Resident individuals are entitled to claim income exemption, of which the threshold amount varies depending on the family circumstances of the taxpayer.

The taxpayer is not entitled to the income exemption if:

• Category B – total income of dependent exceeds MUR110,000 (US$3,313)
• Category C – total income of second dependent exceeds MUR60,000 (US$1,807)
• Category D – total income of third dependent exceeds MUR40,000 (US$1,205)

Qualified dependents may be a spouse, a child under 18 years old, a child over 18 years old who is pursuing a full-time course in an educational institution, and a child over 18 years old who cannot earn a living because of a physical or mental disability.

RENTAL INCOME
Rental income is taxed at 15%. Income-generating expenses are deductible when computing for the taxable income.

Any individual who owns more than one residence or owns a property costing more than MUR2 million (US$60,241), is now required to file an income tax return, irrespective of whether his income is taxable or not.

CAPITAL GAINS
No capital gains tax is levied in Mauritius.

PROPERTY TAX

National Residential Property Tax (NRPT)

This tax is levied on residential properties in Mauritius. The tax base is the total surface area for residential land, or the floor area for flats and apartments.

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