Mauritius

Tax Guide
2012
PKF Worldwide Tax Guide 2012 I
FOREWORD
A countrys tax regime is always a key factor for any business considering moving
into new markets. What is the corporate tax rate? Are there any incentives for
overseas businesses? Are there double tax treaties in place? How will foreign source
income be taxed?
Since 1994, the PKF network of independent member rms, administered by PKF
International Limited, has produced the PKF Worldwide Tax Guide (WWTG) to provide
international businesses with the answers to these key tax questions. This handy
reference guide provides clients and professional practitioners with comprehensive
tax and business information for 100 countries throughout the world.
As you will appreciate, the production of the WWTG is a huge team effort and I
would like to thank all tax experts within PFK member rms who gave up their time
to contribute the vital information on their countrys taxes that forms the heart of this
publication. I would also like thank Richard Jones, PKF (UK) LLP, Kevin Reilly, PKF
Witt Mares, and Kaarji Vaughan, PKF Melbourne for co-ordinating and checking the
entries from countries within their regions.
The WWTG continues to expand each year reecting both the growth of the PKF
network and the strength of the tax capability offered by member rms throughout
the world.
I hope that the combination of the WWTG and assistance from your local PKF
member rm will provide you with the advice you need to make the right decisions
for your international business.
Jon Hills
PKF (UK) LLP
Chairman, PKF International Tax Committee
jon.hills@uk.pkf.com
PKF Worldwide Tax Guide 2012 II
IMPORTANT DISCLAIMER
This publication should not be regarded as offering a complete explanation of the
taxation matters that are contained within this publication.
This publication has been sold or distributed on the express terms and understanding
that the publishers and the authors are not responsible for the results of any actions
which are undertaken on the basis of the information which is contained within this
publication, nor for any error in, or omission from, this publication.
The publishers and the authors expressly disclaim all and any liability and
responsibility to any person, entity or corporation who acts or fails to act as a
consequence of any reliance upon the whole or any part of the contents of this
publication.
Accordingly no person, entity or corporation should act or rely upon any matter or
information as contained or implied within this publication without rst obtaining
advice from an appropriately qualied professional person or rm of advisors, and
ensuring that such advice specically relates to their particular circumstances.
PKF International is a network of legally independent member rms administered by
PKF International Limited (PKFI). Neither PKFI nor the member rms of the network
generally accept any responsibility or liability for the actions or inactions on the part
of any individual member rm or rms.
PKF Worldwide Tax Guide 2012 III
PREFACE
The PKF Worldwide Tax Guide 2012 (WWTG) is an annual publication that provides
an overview of the taxation and business regulation regimes of 100 of the worlds
most signicant trading countries. In compiling this publication, member rms of the
PKF network have based their summaries on information current as of 30 September
2011, while also noting imminent changes where necessary.
On a country-by-country basis, each summary addresses the major taxes applicable
to business; how taxable income is determined; sundry other related taxation
and business issues; and the countrys personal tax regime. The nal section of
each country summary sets out the Double Tax Treaty and Non-Treaty rates of tax
withholding relating to the payment of dividends, interest, royalties and other related
payments.
While the WWTG should not to be regarded as offering a complete explanation of
the taxation issues in each country, we hope readers will use the publication as their
rst point of reference and then use the services of their local PKF member rm to
provide specic information and advice.
In addition to the printed version of the WWTG, individual country taxation guides are
available in PDF format which can be downloaded from the PKF website at www.pkf.com
PKF INTERNATIONAL LIMITED
APRIL 2012
PKF INTERNATIONAL LIMITED
ALL RIGHTS RESERVED
USE APPROVED WITH ATTRIBUTION
PKF Worldwide Tax Guide 2012 IV
ABOUT PKF INTERNATIONAL LIMITED
PKF International Limited (PKFI) administers the PKF network of legally independent
member rms. There are around 300 member rms and correspondents in 440
locations in around 125 countries providing accounting and business advisory services.
PKFI member rms employ around 2,200 partners and more than 21,400 staff.
PKFI is the 10th largest global accountancy network and its member rms have $2.6
billion aggregate fee income (year end June 2011). The network is a member of the
Forum of Firms, an organisation dedicated to consistent and high quality standards of
nancial reporting and auditing practices worldwide.
Services provided by member rms include:
Assurance & Advisory
Corporate Finance
Financial Planning
Forensic Accounting
Hotel Consultancy
Insolvency Corporate & Personal
IT Consultancy
Management Consultancy
Taxation
PKF member rms are organised into ve geographical regions covering Africa; Latin
America; Asia Pacic; Europe, the Middle East & India (EMEI); and North America &
the Caribbean. Each region elects representatives to the board of PKF International
Limited which administers the network. While the member rms remain separate
and independent, international tax, corporate nance, professional standards, audit,
hotel consultancy, insolvency and business development committees work together to
improve quality standards, develop initiatives and share knowledge and best practice
cross the network.
Please visit www.pkf.com for more information.
PKF Worldwide Tax Guide 2012 V
STRUCTURE OF COUNTRY DESCRIPTIONS
A. TAXES PAYABLE
FEDERAL TAXES AND LEVIES
COMPANY TAX
CAPITAL GAINS TAX
BRANCH PROFITS TAX
SALES TAX/VALUE ADDED TAX
FRINGE BENEFITS TAX
LOCAL TAXES
OTHER TAXES
B. DETERMINATION OF TAXABLE INCOME
CAPITAL ALLOWANCES
DEPRECIATION
STOCK/INVENTORY
CAPITAL GAINS AND LOSSES
DIVIDENDS
INTEREST DEDUCTIONS
LOSSES
FOREIGN SOURCED INCOME
INCENTIVES
C. FOREIGN TAX RELIEF
D. CORPORATE GROUPS
E. RELATED PARTY TRANSACTIONS
F. WITHHOLDING TAX
G. EXCHANGE CONTROL
H. PERSONAL TAX
I. TREATY AND NON-TREATY WITHHOLDING TAX RATES
PKF Worldwide Tax Guide 2012 VI
A
Algeria . . . . . . . . . . . . . . . . . . . . 1 pm
Angola . . . . . . . . . . . . . . . . . . . . 1 pm
Argentina . . . . . . . . . . . . . . . . . . 9 am
Australia -
Melbourne . . . . . . . . . . . . . 10 pm
Sydney . . . . . . . . . . . . . . . 10 pm
Adelaide . . . . . . . . . . . . 9.30 pm
Perth . . . . . . . . . . . . . . . . . . 8 pm
Austria . . . . . . . . . . . . . . . . . . . . 1 pm
B
Bahamas . . . . . . . . . . . . . . . . . . . 7 am
Bahrain . . . . . . . . . . . . . . . . . . . . 3 pm
Belgium . . . . . . . . . . . . . . . . . . . . 1 pm
Belize . . . . . . . . . . . . . . . . . . . . . 6 am
Bermuda . . . . . . . . . . . . . . . . . . . 8 am
Brazil. . . . . . . . . . . . . . . . . . . . . . 7 am
British Virgin Islands . . . . . . . . . . . 8 am
C
Canada -
Toronto . . . . . . . . . . . . . . . . 7 am
Winnipeg . . . . . . . . . . . . . . . 6 am
Calgary . . . . . . . . . . . . . . . . 5 am
Vancouver . . . . . . . . . . . . . . 4 am
Cayman Islands . . . . . . . . . . . . . . 7 am
Chile . . . . . . . . . . . . . . . . . . . . . . 8 am
China - Beijing . . . . . . . . . . . . . . 10 pm
Colombia . . . . . . . . . . . . . . . . . . . 7 am
Croatia . . . . . . . . . . . . . . . . . . . . 1 pm
Cyprus . . . . . . . . . . . . . . . . . . . . 2 pm
Czech Republic . . . . . . . . . . . . . . 1 pm
D
Denmark . . . . . . . . . . . . . . . . . . . 1 pm
Dominican Republic . . . . . . . . . . . 7 am
E
Ecuador . . . . . . . . . . . . . . . . . . . . 7 am
Egypt . . . . . . . . . . . . . . . . . . . . . 2 pm
El Salvador . . . . . . . . . . . . . . . . . 6 am
Estonia . . . . . . . . . . . . . . . . . . . . 2 pm
F
Fiji . . . . . . . . . . . . . . . . .12 midnight
Finland . . . . . . . . . . . . . . . . . . . . 2 pm
France. . . . . . . . . . . . . . . . . . . . . 1 pm
G
Gambia (The) . . . . . . . . . . . . . 12 noon
Georgia . . . . . . . . . . . . . . . . . . . . 3 pm
Germany . . . . . . . . . . . . . . . . . . . 1 pm
Ghana . . . . . . . . . . . . . . . . . . 12 noon
Greece . . . . . . . . . . . . . . . . . . . . 2 pm
Grenada . . . . . . . . . . . . . . . . . . . 8 am
Guatemala . . . . . . . . . . . . . . . . . . 6 am
Guernsey . . . . . . . . . . . . . . . . 12 noon
Guyana . . . . . . . . . . . . . . . . . . . . 7 am
H
Hong Kong . . . . . . . . . . . . . . . . . 8 pm
Hungary . . . . . . . . . . . . . . . . . . . 1 pm
I
India . . . . . . . . . . . . . . . . . . . 5.30 pm
Indonesia. . . . . . . . . . . . . . . . . . . 7 pm
Ireland . . . . . . . . . . . . . . . . . . 12 noon
Isle of Man . . . . . . . . . . . . . . 12 noon
Israel . . . . . . . . . . . . . . . . . . . . . . 2 pm
Italy . . . . . . . . . . . . . . . . . . . . . . 1 pm
J
Jamaica . . . . . . . . . . . . . . . . . . . 7 am
Japan . . . . . . . . . . . . . . . . . . . . . 9 pm
Jersey . . . . . . . . . . . . . . . . . . 12 noon
Jordan . . . . . . . . . . . . . . . . . . . . 2 pm
K
Kazakhstan . . . . . . . . . . . . . . . . . 5 pm
Kenya . . . . . . . . . . . . . . . . . . . . . 3 pm
Korea . . . . . . . . . . . . . . . . . . . . . 9 pm
Kuwait . . . . . . . . . . . . . . . . . . . . . 3 pm
L
Latvia . . . . . . . . . . . . . . . . . . . . . 2 pm
Lebanon . . . . . . . . . . . . . . . . . . . 2 pm
Liberia . . . . . . . . . . . . . . . . . . 12 noon
Luxembourg . . . . . . . . . . . . . . . . 1 pm
M
Malaysia . . . . . . . . . . . . . . . . . . . 8 pm
Malta . . . . . . . . . . . . . . . . . . . . . 1 pm
Mauritius . . . . . . . . . . . . . . . . . . . 4 pm
Mexico . . . . . . . . . . . . . . . . . . . . 6 am
Morocco . . . . . . . . . . . . . . . . 12 noon
N
Namibia. . . . . . . . . . . . . . . . . . . . 2 pm
Netherlands (The) . . . . . . . . . . . . . 1 pm
New Zealand . . . . . . . . . . .12 midnight
Nigeria . . . . . . . . . . . . . . . . . . . . 1 pm
Norway . . . . . . . . . . . . . . . . . . . . 1 pm
O
Oman . . . . . . . . . . . . . . . . . . . . . 4 pm
P
Panama. . . . . . . . . . . . . . . . . . . . 7 am
Papua New Guinea. . . . . . . . . . . 10 pm
Peru . . . . . . . . . . . . . . . . . . . . . . 7 am
Philippines . . . . . . . . . . . . . . . . . . 8 pm
Poland. . . . . . . . . . . . . . . . . . . . . 1 pm
Portugal . . . . . . . . . . . . . . . . . . . 1 pm
Puerto Rico . . . . . . . . . . . . . . . . . 8 am
INTERNATIONAL TIME ZONES
AT 12 NOON, GREENWICH MEAN TIME, THE STANDARD TIME
ELSEWHERE IS:
PKF Worldwide Tax Guide 2012 VII
Q
Qatar. . . . . . . . . . . . . . . . . . . . . . 8 am
R
Romania . . . . . . . . . . . . . . . . . . . 2 pm
Russia -
Moscow . . . . . . . . . . . . . . . 3 pm
St Petersburg . . . . . . . . . . . . 3 pm
S
Sierra Leone . . . . . . . . . . . . . 12 noon
Singapore . . . . . . . . . . . . . . . . . . 7 pm
Slovak Republic . . . . . . . . . . . . . . 1 pm
Slovenia . . . . . . . . . . . . . . . . . . . 1 pm
South Africa . . . . . . . . . . . . . . . . . 2 pm
Spain . . . . . . . . . . . . . . . . . . . . . 1 pm
Sweden . . . . . . . . . . . . . . . . . . . . 1 pm
Switzerland . . . . . . . . . . . . . . . . . 1 pm
T
Taiwan . . . . . . . . . . . . . . . . . . . . 8 pm
Thailand . . . . . . . . . . . . . . . . . . . 8 pm
Tunisia . . . . . . . . . . . . . . . . . 12 noon
Turkey . . . . . . . . . . . . . . . . . . . . . 2 pm
Turks and Caicos Islands . . . . . . . 7 am
U
Uganda . . . . . . . . . . . . . . . . . . . . 3 pm
Ukraine . . . . . . . . . . . . . . . . . . . . 2 pm
United Arab Emirates . . . . . . . . . . 4 pm
United Kingdom . . . . . . .(GMT) 12 noon
United States of America -
New York City . . . . . . . . . . . . 7 am
Washington, D.C. . . . . . . . . . 7 am
Chicago . . . . . . . . . . . . . . . . 6 am
Houston . . . . . . . . . . . . . . . . 6 am
Denver . . . . . . . . . . . . . . . . 5 am
Los Angeles . . . . . . . . . . . . . 4 am
San Francisco . . . . . . . . . . . 4 am
Uruguay . . . . . . . . . . . . . . . . . . . 9 am
V
Venezuela . . . . . . . . . . . . . . . . . . 8 am
Vietnam . . . . . . . . . . . . . . . . . . . . 7 pm
PKF Worldwide Tax Guide 2012 1
Mauritius
MAURITIUS
Currency: Rupee Dial Code To: 230 Dial Code Out: 00
(MRU)
Member Firm:
City: Name: Contact Information:
Port Louis Christine Sek Sum 208 0878
pkf.mu@intnet.mu
A. TAXES PAYABLE
FEDERAL TAXES AND LEVIES
The main income tax legislation in Mauritius is the Income Tax Act 1995 as amended
by subsequent Finance Acts. Corporate and Personal Taxes are embodied under one
heading of Income Tax and are payable by all resident companies and individuals on
non-exempt income derived from Mauritius and from other sources. The prots of
all Resident Socits (Partnerships) are taxable in the hands of the associates in
proportion to their prot sharing ratio. A non-resident socit is liable to income tax
as if the socit was a company. Resident, in relation to an income year, means:
a company which is incorporated in Mauritius or has its Central Management
and control in Mauritius
an individual who:
(a) has his/her domicile in Mauritius unless his/her permanent place of abode
is outside Mauritius
(b) has been present in Mauritius in that income tax year for a period of, or an
aggregate period of, 183 days or more or has been present in Mauritius
in that income year and the two preceding income years for an aggregate
period of 270 days or more
a socit which has its seat in Mauritius and includes a socit which has at
least one associate resident in Mauritius
trust where the trust is administered in Mauritius and a majority of the
trustees are resident of Mauritius or where the settler of the trust was resident
in Mauritius at the time the instrument creating the trust was executed
any other association an association or body of persons which is managed or
administered in Mauritius.
COMPANY TAX
The rate of tax applicable for all companies is 15%.
ALTERNATIVE MINIMUM TAX (AMT)
Where in the case of a company the normal tax payable is less than 7.5% of its book
prot, the tax payable for that income year is deemed to be 7.5% of its book prot or
10% of any dividends declared in respect of that year, whichever is the lesser. This
alternative minimum tax is applicable in certain specic cases.
OFFSHORE COMPANIES
Offshore Companies (now known as Corporation Holding Category 1 Global Business
Licence) pay tax at a rate of 15%. Tax credit up to 80% is available.
Offshore International Companies (now Corporation Holding Category 2 Global
Business Licence) are exempt from tax.
DUE DATES FOR PAYMENT OF TAX
Companies must le tax returns and pay any income tax not later than six months
from the end of the month in which the accounting period ends.
ADVANCE PAYMENT SYSTEM (APS)
Companies, unit trust schemes, collective investment trusts, cells of a protected cell
company socit holding Category 1 Global Business Licence, must submit an APS
Statement in respect of each of the three months period commencing the rst day
of the accounting year and pay any tax in accordance with the APS Statement within
three months from the end of the quarter.
CAPITAL GAINS TAX
There is no Capital Gains Tax in Mauritius.
BRANCH PROFITS TAX
There is no Branch Prots Tax in Mauritius.
VALUE ADDED TAX (VAT)
VAT is charged on taxable supplies (both goods and services) made in Mauritius at
a standard rate of 15%.
Certain items such as basic foodstuffs and medical and educational services are
exempted while exports are zero rated.
PKF Worldwide Tax Guide 2012 2
The threshold for VAT registration is a turnover of taxable supplies exceeding Rs 2m per year.
VAT Registration is compulsory irrespective of the annual turnover for persons engaged
in certain business or profession. There is at present no double taxation agreement for VAT.
NATIONAL RESIDENTIAL PROPERTY TAX
NRPT has been abolished as from 1 January 2010.
FRINGE BENEFITS TAX
Employees receiving any advantage in money or moneys worth are taxed thereon.
Certain incomes are exempt:
rent and housing allowance for certain persons
passage benefts, limited to 6% of basic salary
the frst Rs 1.5 million of lump sum paid on retirement or death.
LOCAL TAXES
All taxes are on a national basis but municipal and district councils are empowered
to levy property tax, entertainment tax and certain licences.
B. DETERMINATION OF TAXABLE INCOME
The taxable income is determined by ascertaining the assessable income and then
deducting any expenditure or loss in the income year to the extent to which it is exclusively
incurred in the production of gross income (other than emoluments). For emoluments,
the expenditure must be wholly, exclusively and necessarily incurred in performing the
duties of an ofce or employment.
The unauthorised deductions are:
investment, expenditure or loss of a capital, private or domestic nature, fne
expenditure or loss incurred in the production of exempt income or which is
recoverable under a contract of insurance or indemnity
income tax or foreign tax
any expenditure incurred in providing business entertainment or gifts.
CAPITAL ALLOWANCES
Annual allowances are available on capital expenditure incurred exclusively in the
production of gross income. The rate of annual allowance varies from 5% to 100%
depending on the type of asset and is calculated on the base value or on cost.
DIVIDENDS PAID BY RESIDENT COMPANIES
Dividends paid by resident companies are exempted.
ROYALTIES
Royalties paid to a non-resident are exempted from tax for the following companies/trusts:
(i) a company holding a Category 1 Global Business Licence (GBL) out of its
foreign source income
(ii) a bank in so far as the royalty is paid out of gross income derived from its banking
transactions with non-residents and corporation holding a Category 2 GBL
(iii) by a trust.
INTEREST RECEIVED
The following interests are exempt from tax.
Interest payable on:
(i) a balance maintained in a bank by an individual who is not resident in Mauritius
(ii) savings and xed deposit account held by an individual, a socit or a succession
(iii) call and deposit amounts held with any bank by a corporation holding a
Category 1 GBL
(iv) interest paid to a non-resident not carrying on any business in Mauritius by:
(a) a corporation holding a Category 1 GBL out of its foreign source income or
(b) by a bank in so far as the interest is paid out of gross income derived from its banking
transactions with non-residents and corporation holding Global Business Licence.
LOSSES
Losses can be carried forward (but not backwards) for set off against income derived
in the ve succeeding income years provided that there is continuity; i.e. that 50%
in nominal value of the allotted shares and not less than 50% of the paid up capital
was held by or on behalf of the same person. If a company engaged in manufacturing
activities is taken over by another company or two or more companies engaged in
manufacturing activities merge into one company, any unrelieved loss of the acquiree
may be transferred to the acquirer in the income year in which the takeover or merger
takes place on such conditions relating to safeguard of employment of the companies.
FOREIGN SOURCED INCOME
Income derived from outside Mauritius by a resident is taxable in the normal manner
subject to double taxation relief.
Mauritius
PKF Worldwide Tax Guide 2012 3
INCENTIVES
With effect from assessment year 2007/08 most incentives have been removed. The
exceptions are:
(a) deduction of twice the emoluments paid to a disabled person
(b) transfer of loss of a manufacturing company by another company on take over
or merger
(c) additional investment allowance on capital incurred on the acquisition of state-
of-art technological equipment by a manufacturing company. As from 1 July
2008, an ICT company is no longer entitled to any investment allowance
(d) tax relief on the interest paid by an individual on a housing loan, subject to conditions.
SPECIAL LEVY ON BANKS
The rate of special levy payable by every bank subject to certain conditions is as follows:-
Year of assessment starting
(1) 1 January 2011 3.4% on book prot and 1% on
operating income
SOLIDARITY LEVY ON TELEPHONY SERVICE PROVIDERS
A provider of public xed or mobile communication networks and services, called an
operator, shall be liable to pay a levy calculated at the rate of 5% of the book prot and 1.5%
of the turnover of the operator in respect of each of the years of assessment commencing
1 July 2009 and 1 January 2010 to 1 January 2012 subject to certain conditions.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
Every protable company is required to spend 2% of its chargeable income of the
preceding year to implement:
(a) an approved programme by the company
(b) an approved programme under the National Empowerment Foundation or
(c) Finance an NGO.
For the purpose of CSR, a company does not include:
(a) a company holding a Category 1 Global Business Licence
(b) a bank holding a banking licence under the Banking Act in respect of its income
derived from its banking transactions with non-resident or corporation holding
Global Business Licence
(c) An Integrated Resort Scheme (IRS) Company
(d) A non-resident socit, a trust or a trustee of a unit trust scheme.
OFFSHORE CORPORATIONS
Offshore corporations are now known as companies holding a Category 1 Global
Business Licence.
Offshore corporations (companies, trusts, socits) have special scal regimes and
incentives such as customs duty remission and concessionary income tax rates for
expatriates. Generous tax credits are available to those companies.
OFFSHORE TRUSTS
Resident trusts are taxed at 15%. Deemed tax credit of 80% is available to the trusts.
Non-resident trusts and their non-resident beneciaries are exempt from taxes.
SOCIT
Every associate of a socit holding a Category 1 Global Business Licence is liable to
income tax in respect of its share at the rate of 15%.
C. FOREIGN TAX RELIEF
Unilateral relief is provided for in the Income Tax Act. In the event of double taxation
relief is by way of an ordinary credit. The taxpayer may elect to claim the credit on
aggregate foreign-source income or on a source-by-source basis.
D. CORPORATE GROUPS
The general rule is that no group relief is allowed except in a few special cases.
E. RELATED PARTY TRANSACTIONS
The tax authorities may adjust the liability of a taxpayer where it considers that a
transaction has not been entered into or carried out by persons dealing at arms
length. It must be of the opinion that avoidance or reduction of liability of tax was the
main purpose of such a transaction.
Mauritius
PKF Worldwide Tax Guide 2012 4
F. WITHHOLDING TAX
The rates for withholding taxes are as follows:
Residents Non-residents
Companies Individuals Companies Individuals
Interest 0% 0% 10% 10%
Royalties 10% 10% 15% 15%
Rent 5% 5% 5% 5%
Contract 0.75% 0.75% 0.75% 0.75%
Services 3% 3% 10% 10%
Payments made by
central government
or local authority
for procurement of
goods/services
13% 13% 10% 10%
H. PERSONAL TAX
CHANGE IN FISCAL YEAR
As from 1 January 2010, the scal year is on a calendar year basis. Income Tax is
payable by residents on non-exempt income derived from Mauritius less allowable
deductions including interest on housing loan, subject to conditions. Employers
deduct income tax from each salary payments of all individual taxpayers.
The personal tax rates have evolved as follows:
Income year Chargeable income Tax Rate
Commencing on:
1 July 2006 First Rs 500,000 15%
Remainder 22.5%
1 July 2007 First Rs 500,000 15%
Remainder 20%
1 July 2008 Total 15%
1 January 2010 onwards Total 15%
I. TREATY AND NON TREATY WITHHOLDING TAX RATES
The rates for treaty countries are as follows.
Dividends
(%)
Interest
(%)
Royalties
(%)
Treaty Countries:
Barbados 5 5 5
Belgium 5/10 10 (1)
Botswana 5/10 12 12.5
China 5 10 10
Croatia (1) (1) (1)
Cyprus (1) (1) (1)
France 5/15 (2) 15
Germany 5/15 (2) 15
India 5/15 (2) 15
Italy 5/15 (2) 15
Kuwait (1) (1) 10
Lesotho 10 10 10
Luxembourg 5/10 (1) (1)
Madagascar 5/10 10 5
Mauritius
PKF Worldwide Tax Guide 2012 5
Dividends
(%)
Interest
(%)
Royalties
(%)
Malaysia 5/15 15 15
Mozambique 8/10/15 8 5
Namibia 5/10 10 5
Nepal 5/10/15 10/15 15
Oman (1) (1) (1)
Pakistan 10 10 12.5
Rwanda (1) (1) (1)
Senegal (1) (1) (1)
Seychelles (1) (1) (1)
Singapore (1) (1) (1)
South Africa 5/15 (1) (1)
Sri Lanka 10/15 10 10
State of Qatar (1) (1) 5
Swaziland 7.5 5 7.5
Sweden 5/15 15 15
Thailand 10 10/15 5/15
Tunisia (1) 2.5 2.5
Uganda 10 10 10
United Arab Emirates (1) (1) (1)
United Kingdom 10/15 (2) 15
Zimbabwe 10/20 10 15
1 Exempt.
2 Same rate as under domestic law.
MEXICO
Currency: Peso Dial Code To: 52 Dial Code Out: 00
(P)
Member Firm:
City: Name: Contact Information:
Guadalajara Mario Camposllera 33 3634 7159
mcamposllera@pkfmexico.com
Guadalajara Vernica Barba 33 3634 7159
vbarba@pkfmexico.com.mx
A. TAXES PAYABLE
FEDERAL TAXES AND LEVIES
COMPANY TAX
Tax is calculated for each calendar year, comparing income obtained less allowable
deductions. Currently, the corporate tax is 30% of taxable prots.
All income obtained by companies is taxed, regardless of the source, except in
the case of branches of foreign companies. Branches are taxed based on income
attributable to the branches.
Foreign companies, branches and persons established in Mexico which obtain
income abroad are allowed to credit any foreign taxes paid against Mexican taxes
payable by them up to the total local tax applicable in each case.
CAPITAL GAINS TAX
Taxable prots on the sale of land, securities and other assets are calculated by deducting
the tax cost from the selling price. The tax cost is based on the original cost of the asset
being sold, adjusted for ination for the period during which the asset was owned.
A more complicated procedure is adopted to determine the tax cost of shares, which takes
into account tax prots and losses obtained, dividends paid and received, reimbursements
of capital paid, and ination adjustments.
Mauritius
PKF Worldwide Tax Guide 2012 565
www.pkf.com $100