I would like to begin by thanking the prime minister for entrusting me the task of managing the finances of the nation and steering the economic development of our country. The mauritius police force, has so far received 10 311 applications, of which 3 084 have been approved. In addition, we are expecting the deficit to be financed by an increase of mur6. In addition, we are expecting the deficit to be financed by an increase of mur4.
The mcci is a dynamic actor in the socioeconomic development of mauritius and offers professional services for business operations, trade, import, export, economic perspectives, tax refund, arbitration, mediation and networking. The minister has widely consulted with the key stakeholders and the budget proposal reflects some of their recommendations. Managing budgetary virements international monetary fund. The health assembly subsequently adopted resolution wha70. Emphasis has been placed on the competitive advantage of mauritius. Fmpa 2015 was the amending legislation and did provide that the amendment will come into force on a date to be fixed by proclamation. The upward change was driven by an increase in the budget for. Pravind kumar jugnauth presented the budget speech the budget to the national assembly. Corporate tax holiday of 5 years for investment banks issued with an investment banking and corporate advisory licence and regulated by. Corporate tax holiday of 5 years for investment banks issued with an. The budget indicates a higher dependency on grants, which will increase by mur2.
The national budget 201617 gave a further thrust to this initiative with the government of the republic of. I would like to begin by thanking the prime minister for entrusting me the task of managing the finances of the nation and steering the economic development. Summary of budget 2014 taxation measures policy changes achoimre ar bhearta bhuisead 2014 athruithe beartais taxation annexes to the budget 2014 measures all annexes economic and fiscal outlook 2014. The slow pace, and at times, the delay in the implementation of. This is the third budget of the minister of finance and economic development under the present government. Mauritius budget 2020 governments development agenda online.
In the 20162017 budget, government embarked on an exercise to. This budget announces several measures that establish a new framework for the way business will be carried out in mauritius. Here ill show you what to do and where to go to make the most of your time there with just a backpackers budget. Budget 2016 announces that, from 6 april 2016, the higher rate of capital gains tax cgt will be reduced from 28% to 20%, and the basic rate will be reduced from 18% to 10%. Hopefully, there will be an efficient implementation of the act in the future by the mauritius revenue authority mra. As i announce the policies and measures in this budget, this house and the nation will better understand my optimism. Budget speech 20152016 supplement to the budget speech 20152016. Forecast shows a rebound in economic activities with growth rate rising to 5.
In mauritius, using this model, it is essential for us to leverage on our geopolitical advantage to become a hub for investors from asia and europe into the african region and attract multinational companies to invest in the productive sectors of the economy. Property management manual pmm 2016 property management manual july 2001. The mauritius chamber of commerce and industry serves and promotes the interest of the business community. While economic growth is expected to be satisfactory in the united states and the united kingdom at around 2. The budget 2016 2017 is a unique opportunity to transform our economic model in line with.
The shares of the company where applicable are not in any manner disposed of without prior approval under the noncitizens property restriction act. Of the republic of mauritius 28 the president 29 the vicepresident 30 removal of the president and the vicepresident 30a privileges and immunities 30b oaths to be taken by the president and the vicepresident this constitution was originally published as the schedule to the mauritius independence order 1968 in gn 54 of 1968. Budget 2016 announces an increase in the rate of tax payable by close companies under the loans to participators rules so that it continues to mirror the higher rate of dividend tax. The new registration duties exemption for a mauritian acquiring a newly built dwelling costing less than rs. Virements are among a number of tools to deal with the uncertainties that arise during the course of budget execution and result in the need to vary the allocation of government expenditure. Budget speech 2016 2017 mauritius tourism authority. Planning and development archives national budgets. Fiscal year 2016 budget summary and background information. Corporate tax holiday of 5 years to law firms which set up their regional offices in mauritius to provide legal advisory and international arbitration services to global business clients. It is commendable that the 20162017 budget has maintained the core philosophy mauritius is known for, which is to maintain a probusiness and social welfare agenda with measures projecting an. Mauritius issues 2016 budget executive summary on 29 july 2016, the mauritian minister of finance and economic development, the hon. The key focus of business mauritius for this 20172018 budget is on the acceleration of the implementation of a number of policies and measures on which there is already general agreement. Getting there cheaply since it is a small island in the middle of the indian ocean, flights to mauritius are often a bit expensive. The honourable minister of finance and economic development mr.
Other statutory bodies, local authorities and rodrigues regional assembly and the private secondary schools prb report 2016. The budget indicates a dependency on grants, which will increase by mur5. This constitutes a nominal increase of 27% and a real increase of 4%, from the previous year. Pravind jugnauth, minister of finance and economic development, on 29 july 2016. Mauritius reduces statute of limitations for income tax. This final version of the approved programme budget 20182019 represents without change the document considered by the health.
Thorn tree country forums africa mauritius sitemap. Financial statement ministers speech online pdf download summary of 2011 budget measures policy changes pdf. Worth individuals investing a minimum of usd 25 million in mauritius. Mauritius budget highlights 2016 foreword 03 2016 deloitte mauritius foreword budget 20162017 strategies for a new era of development the honourable minister of finance and economic development mr. Budget memorandum mauritius chamber of commerce and. Administration companies in mauritius will be granted a tax holiday of 8 years, whilst. E treatment by society and authorities of interreligious couples, including the marriage of a hindu man to a muslim woman. Budget 20162017 strategies for a new era of development. Memorandum on the 20162017 budget mauritius chamber of.
Issuance of government of mauritius treasury bills. States and school districts have made considerable progress in putting in place college and career ready. Pravind jugnauth delivered his first budget speech after the 2014 elections. It was presented on the backdrop of slowdown in the economic growth along with high levels of unemployment. Variance between the original budget and expenditure outturn 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% below 9%. The overall budget deficit is expected to fall to rs 15. Global companies registered as global headquarters. Mauritius national budget 201516 4 the government is embarking on a new journey for reviving the economy and this years budget unveils a series of measures, carving out the right strategies to shape a longrange vision for a more sustainable future. The budget 20152016 mauritius at the crossroad emphasises that the most ambitious goal of government is to make the small and medium enterprises sme sector the backbone of the economy.
Government budget allocation for the plan, and recent efforts to strengthen public institutions and mobilize public. Isbn 9781910835739, pu1911 pdf, 374kb, 23 pages budget 2016 policy costings. Apr 10, 2020 the national budget 20202021 will set in motion the government programme 20202024 towards an inclusive, high income and green mauritius. Mauritius marshall plan aims to eradicate poverty and.
Budget speech 201617 a new era of development madam speaker, i move that the appropriation 201617 bill be read a second time. Mauritius 20152016 budget brief linkedin slideshare. This is a budget that puts the next generation first. Government has projected a small budget deficit of 3. The new digitalised work access permit wap system has become fully operational since noon, today, 11 may 2020.
The mauritius national budget speech for 201617 was delivered by hon. Home thorn tree country forums africa mauritius mauritius on a budget. The new budget measures that will impact positively the mauritius real estate sector. Mauritius recorded a government budget deficit equal to 3. Considering that, at present, agribusiness public sector real estate ict 7 tax perspective dheerend puholoo associate director the. The republic of mauritius situated in the south west of the indian ocean comprises the main islands of mauritius and rodrigues with a total area of 1,969 square kilometres. It is worthy to note that the year 2016 was marked by the passing of the national wage consultative council act and the setting up of the national wage consultative council to make recommendations to the minister of labour, industrial relations, employment and training on a national minimum wage for the republic of mauritius. Medium term fiscal policy cum fiscal policy strategy statement. And the budget deficit for the financial year 201516 is. In terms of budget outturn, gdp growth was scaled back slightly to 3.
Unlike his first budget, this budget does not have significant fiscal reforms. The budget speech 20162017 read by the minister of finance and economic development, honourable pravind kumar jugnauth, on 29 july 2016, has charted out the economic vision for the coming year. The 2016 budget is being presented at a time of great uncertainty in the global economy. In uncertain times and against a deteriorating global economic outlook, this budget delivers security for working people. Budget 2011 documents published on 7th of december 2010 are available below. Reading between the lines budget 2014 november 20 tax administration the introduction of the tax administration bill is a positive step towards a better tax administration in line with other developed tax jurisdictions. Mauritius government budget 20032019 data 20202022.
Summary of the 2016 budget the 2016 department of education budget request would continueto strengthen the building blocks of educational success in our states, school districts, and schools. This page provides mauritius government budget actual. The loans to participators tax rate will be increased from 25% to. Mauritius releases 2014 budget executive summary on 8 november 20, mauritius minister of finance and economic development released the countrys 2014 budget. Manufacturing investment banks and law firms established in mauritius will enjoy a tax holiday of 5 years. Budget outlook fy 201617 as at june 2016 budget outturn fy 201617 budget outlook fy 201718 total expenditure rs 117. Financial management manual fmm 2016 financial management manual. The 201617 budget was made public on friday 29th july 2016 with a number of measures focused on promoting growth. The proposed programme budget 20182019 was presented to the seventieth world health assembly in document a707 in may 2017.
The low and simple fiscal regime with reintroduction of the concept of tax holiday and improved investment tax credits with companies operating in the. Mauritius budget highlights 201920 7 the overall budget deficit is forecasted at mur16. We also expect inflation to remain subdued and the unemployment rate to decline. The budget 20162017 is a unique opportunity to transform our economic model in line with. The 20162017 budget contains various measures to boost the economy in the midst of major challenges facing mauritius. Budget 2015 contents page summary of 2015 budget measures policy changes a. Mauritius budget 201617 analysis the budget 201617 for the mauritius economy was presented by the finance minister on july, 29, 2016. The 2016 2017 budget contains various measures to boost the economy in the midst of major challenges facing mauritius. Mauritius on a budget mauritius lonely planet forum. The finance bill 2019 approved without amendments the bill has introduced real estate investment trusts, controlled foreign company cfc rule. There will also be a focus on raising the quality of life for all, lifting the standard of living of the vulnerable groups and securing a safe society.
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