Mauritius Gazettes 2018-19 Budget: Individual Tax Measures

The Mauritian Official Gazette Aug. 9 published the Finance Act 2018, including tax measures announced in the 2018-19 budget speech. The bill includes individual income tax measures: 1) reducing the tax rate to 10 percent from 15 percent for income up to 650,000 rupees (US$18,674); 2) increasing all income exemption thresholds by 5,000 Mauritian rupees (US$143); 3) increasing the exemption threshold for employees who receive a lump sum severance; 4) increasing the income exemption threshold for pensions; and 5) requiring nonresidents to pay income taxes on domestically sourced income. The measures generally enter into force and take effect Jan. 1, ...