Adopted Budget 2024-2025 with implications for investment
03 Jun 2024
On 7 June 2024, Mauritius released its Budget for the fiscal year 2024-2025, outlining a series of strategic initiatives aimed at inter alia encouraging investment and improving the ease of doing business. These include, among others:
• Measures to expedite the issuance of licences and permits, ensuring they are processed within 10 working days, provided all requirements are met.
• An 80 per cent partial exemption on income for companies holding a Robotic and AI Enabled Advisory Services licence, provided they meet substance requirements.
• 100 per cent tax exemption on gains from the sale of virtual assets and virtual tokens to stimulate innovation and investment. Furthermore, the Premium Investor Certificate (PIC) will be extended to cover private investments in the creative industry, including the development of concert venues and theatres.
The Budget also determines that income derived from intellectual property assets by manufacturing companies in the medical, biotechnology, or pharmaceutical sectors will be taxed at 15 per cent instead of 3 per cent, aligning with international norms.
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Type:
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Promotion and facilitation (Investment facilitation , Investment incentives)
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Industry:
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Not industry specific
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Services (Computer programming, consultancy and related activities, Human health activities)
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Sources:
