INCOME TAX The principal income tax legislation in Mauritius is the Income Tax Act 1995, as amended by subsequent finance laws. Corporate and personal taxes are grouped under a single head of income tax and are payable by all resident companies and individuals on non-exempt income derived from Mauritius and other sources. The profits of all resident "Sociétés" (Partnerships) are taxable in the hands of the associates in proportion to their percentage of participation in the profits. A non-resident company is subject to income tax as if it were a corporation. "Resident", in respect of an income year, means: • a company incorporated in Mauritius or with central management and control in Mauritius • an individual who: a) has his domicile in Mauritius, unless he has a permanent place of residence is outside Mauritiusb) has been present in Mauritius in that tax year for a period of 183 days or more or has been present in Mauritius in that year of income and in the two preceding years of income for a total period 270 days or more• a company which is established in Mauritius and includes a company which has at least one associate resident in Mauritius• trust – where the trust is administered in Mauritius and the majority of the trustees are resident in Mauritius or where the settler of the trust was resident in Mauritius at the time of execution of the trust deed • any other association – an association or body of persons managed or administered in Mauritius. Personal Taxes Starting January 1, 2010, the tax year coincides with a base calendar year. Income tax is payable by residents on non-exempt income derived from Mauritius, less allowable deductions, including interest on real estate mortgage, subject to…… half the paper……r losses to the parent company; and there are some special provisions in the sugar sector. Tax reporting and payment requirements: The tax year runs from January 1st to December 31st. There is a self-assessment system, based on the previous year; a company must file its tax return six months after the end of the financial year. The declarations must be accompanied by full payment of the tax due. The Commissioner of Income Tax may issue his own assessment if he does not agree with the company's assessment. There is an appeals process, which ultimately ends up in the Supreme Court. The 2007/8 Budget introduced an advance payment system (APS) for companies, under which they are required to make a quarterly provisional tax payment based on the previous year's taxable income. tax return. The final reconciliation of your tax debt will be done when you file your annual tax return for that year.