The Mauritian Budget was presented in Parliament on Friday 7 June 2024.
The tax rates remain unchanged with the top marginal individual tax rate remaining at 20% (with a MUR 10,000 shift in the tax bands to cater for bracket creep) and the corporate tax rate remaining unchanged at 15%.
There were however two items that would be of interest to South African citizens considering a move to Mauritius.
In the first instance, the minimum salary for an expatriate to be employed by a Mauritian company has decreased from MUR 30,000 to MUR 22,500 per month. Although an expatriate will not be able to survive on this income, it does allow the spouse of an occupational permit holder to also enter the work force and supplement the family’s income and also allowing spouses of occupation permit holders to enter the work force.
The second change is that the holder of a Residence permit as Retired is also permitted to enter the Mauritian work force, again at a minimum salary of MUR 22,500 per month.
It must be borne in mind that there are proposals and must be passed by Parliament for these amendments to come into effect.
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