Expands tax incentives for AI, IP, and virtual assets
27 Jul 2024
On 27 July 2024, Mauritius enacted the Finance (Miscellaneous Provisions) Act 2024, introducing new tax incentives and exemptions, including:
• Companies holding a Robotic and Artificial Intelligence Enabled Advisory Services license, issued by the Financial Services Commission, can claim an 80 per cent exemption, subject to meeting substance requirements, effective 1 July 2024.
• A 15 per cent investment tax credit, spread over three years, applies to capital expenditure incurred in developing artificial intelligence (AI) and patents, effective 1 July 2024.
• Income from the sale of virtual assets and tokens is now 100 per cent exempted, similar to the exemption on the sale of securities, effective 1 July 2024.
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Type:
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Promotion and 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, Scientific research and development, Other professional, scientific and technical activities)
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Sources:
