Mauritius Gazettes 2022-23 Finance Act

The Mauritian Official Gazette Aug. 2 published Act No. 15, the 2022-23 Finance Act. The law includes measures: 1) setting the individual income tax rate of 10 percent on annual income up to 700,000 rupees (US$15,742), 12.5 percent on income between 700,000 and 975,000 (US$21,928), and 15 percent on income above 975,000; 2) increasing the exemption for travelling allowances deductible from income tax to 20,000 rupees (US$449) from 11,500 rupees (US$258); 3) extending the 50 percent rental waiver to June 2023, to support hotel refurbishment; 4) increasing the maximum tax exemption to 500,000 rupees (US$11,245) from 225,000 rupees (US$5,060) for ...