Experts and business leaders applaud abolition of Solidarity tax

The abolition of the Solidarity Levy in the 2023/2024 Budget has garnered widespread support. Experts and business leaders, such as Shamima Mallam Hassam from Mauritius Finance and Namita Jagarnath Hardowar from the Mauritius Chamber of Commerce and Industry (MCCI), believe that this measure will have positive effects on the economy.

The removal of the Solidarity Levy is expected to attract foreign professionals and investors while retaining local talent, according to Mallam-Hassam.

Hardowar supports the revision of the tax system and highlights the potential positive impact on the economy.

Economic observers, including Imrith Ramtohul, explain that the elimination of the levy will create a progressive individual tax system, reducing the burden on taxpayers and encouraging productivity.

They argue that the lower tax rates may attract skilled foreigners to work in Mauritius, ultimately leading to higher tax revenues for the government.

Tahir Wahab, an expert in accounting and economics, sees the abolition of the Solidarity Levy as a positive step to address brain drain.

He believes that reducing taxes will attract professionals needed to develop emerging sectors and contribute to job creation and the country’s GDP.

Source: Defi Media