Mauritius Taxmen Rake in Rs 137 Billion in 2022-2023

The Mauritius Revenue Authority (MRA) has reported impressive financial results for the 2022-2023 fiscal year, with a total revenue collection of Rs 137 billion.

This marks a significant increase of Rs 25 billion compared to the previous fiscal year. Key contributors to this revenue include the Value Added Tax (VAT) at Rs 47.8 billion, reflecting a growth of 24.8%, and corporate income tax at Rs 22.6 billion, showing a substantial increase of 36.8%.

Excise duties also saw a 4.5% rise, resulting in revenues of Rs 21.1 billion.

The tourism sector experienced a remarkable rebound, generating Rs 9.3 billion in revenue, doubling the previous year’s collection and surpassing pre-pandemic levels by 24%.

Additionally, passenger fees increased to Rs1billion.

In terms of taxpayers, 2,833 individuals were classified as high-income earners, while 63 individuals faced assessments for tax underreporting, leading to a total of Rs 144 million.

Furthermore, the MRA initiated 60 prosecutions during the fiscal year for various tax-related offences, including 19 cases related to non-submission of tax returns under the Income Tax Act and VAT Act.

Source: Defi Media