Mauritius 2018 Budget: Remote Tax Assessment Regulations & the Global Business License

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On July 31st this year, Mauritius’ National Assembly have passed the Finance (Miscellaneous Provisions) Act, offering impact to the global business license (GBL) and business tax collection measures reported in the 2018-2019 Budget.

From January 1st 2019, the foreign tax credit regime will be quashed and consequently, any businesses in Mauritius holding a Mauritius GBL will be charged a 15% tax rate. An 80% partial exemption regime will apply to external income streams; subject to pre-characterized substance necessities and exceptions where companies were authorized before October 17th last year.