Mauritius - Measures announced in Budget Speech 2023 - 2024

Mauritius - Measures announced in Budget Speech 2023 - 2024

On 2 June 2023, the Minister of Finance, Economic Planning and Development presented the Mauritius National Budget 2023/2024. The most significant changes are the abolition of the solidarity levy and the change to a progressive tax system, a major reform to the long-standing flat rate system.

These proposed changes will be effective as from income year starting on 1st July 2023.

Progressive income tax
 The annual chargeable income of an individual will be taxed as follows:

From 
To
Chargeable Income
Rate of income tax
- 
390,000 
First Rs 390,000 
0% 
390,001 
430,000 
Next Rs 40,000 
2% 
430,001 
470,000 
Next Rs 40,000 
4% 
470,001 
530,000 
Next Rs 60,000 
6% 
530,001 
590,000 
Next Rs 60,000 
8% 
590,001 
890,000 
Next Rs 300,000 
10% 
890,001 
1,190,000 
Next Rs 300,000 
12% 
1,190,001 
1,490,000 
Next Rs 300,000 
14% 
1,490,001 
1,890,000 
Next Rs 400,000 
16% 
1,890,001 
2,390,000 
Next Rs 500,000 
18% 
2,390,001 
Exceeding 
On the remainder 
20% 

Solidarity Levy 
 Solidarity Levy imposed on individuals earning a leviable income of more than Rs3m has been abolished.

Income Exemption Thresholds
 The exemption of Rs 325,000 granted to a taxpayer in respect of self has been replaced by a tax rate of 0 percent applicable on the first Rs 390,000 of chargeable income. An individual with no dependent having a net income of up to Rs 30,000 monthly, as compared to Rs 25,000 under the present system, will not pay any income tax.

Deduction for dependents
Income exemption thresholds for categories B, C, D and E have been replaced by deduction for dependents. These amounts have remained unchanged:

Dependent
Amount of deduction (Rs)
1 dependent
110,000 
2 dependents
190,000 
3 dependents
275,000 
4 or more dependents
355,000 

All other personal reliefs and deductions have remained unchanged.


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