Monday, 23 April 2012

TAX RESIDENCY IN MAURITIUS


Mauritius is a tax treaty planning jurisdiction with a network of 36 Double Taxation Avoidance Agreements. Entities holding a GBC 1 License wishing to avail to the benefits of a tax treaty must obtain a Tax Residence Certificate from the Mauritius Revenue Authority.

So far Mauritius has concluded 36 tax treaties and is party to a series of treaties under negotiation.

The treaties currently in force are: Barbados Belgium Botswana, Croatia, Cyprus, Sri Lanka, France, Germany, India, Italy, Kuwait, Lesotho, Luxembourg, Madagascar, Malaysia, Mozambique, Namibia, Nepal, Oman, Pakistan, People’s Republic of Bangladesh, People’s Republic of China Rwanda, Senegal, Seychelles, Singapore, South Africa, State of Qatar, Swaziland, Sweden, Thailand, Tunisia, Uganda, United Arab Emirates, United Kingdom, and Zimbabwe. 

Treaties Awaiting Ratification: Russia, Zambia and Republic of Congo.

Treaties Awaiting Signature: Egypt Kenya, Malawi, Nigeria, and Ghana. 

Treaties Under Negotiation: Algeria, Greece, Yemen, Burkina Faso, Republic of Iran Portugal, Canada, Saudi Arabia, Czech Republic and Vietnam. 

Pre-requisite for Tax Residence Certificate (to be given in form of undertakings)
  1. The Company shall at all times have at least one general partner resident in Mauritius. The general partner shall be of appropriate calibre who can exercise independence of mind and judgment;
  2. All meetings of the Board of general partners shall be held, chaired and minuted in Mauritius; 
  3. The Partnership shall at all times keep all its accounting records at its registered office in Mauritius; and 
  4.  The Partnership shall ensure that all its banking transactions are channeled through a bank account in Mauritius.
For further consultation and or advisories, please contact us at stralexgroup@gmail.com or call us on +254 773 865 798

For: Strategic Legal Solutions Group LLP

Globalex Consulting Group * a participating consultancy in the SLS Group of Consultancies. If provides advisory services on laws affecting conduct of business in other jurisdictions, including international tax law.

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