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MRA Allocates Rs 8 Billion in 6 Months



MRA Allocates Rs 8 Billion in 6 Months

An in-depth analysis of the funds allocated by the Mauritius Revenue Authority (MRA) for the fiscal year 2023-24 reveals the significant extent of the various allocations announced by the government.

Special Allowance Rs 879 million
Introduced in the Finance Act, the Special Allowance is a supplement to the national minimum wage.

The aim is to ensure a minimum income for the most vulnerable segment of the population.

From July 2023 to February 2024, the MRA disbursed a total of Rs 879 million.

CSG Income Allowance Rs 5.2 billion
The CSG Income Allowance, announced in the 2022-23 Budget, came into effect in July 2022.

Approximately 130,000 employees receive a monthly amount of Rs 1,000, and another 210,000 receive Rs 2,000.

For the financial year 2022-23, the MRA paid out Rs 4.3 billion, compared to Rs 5.2 billion for the current year.

Support for SMEs and EOE Rs 61.6 million
In 2020, the government announced financial support for small and medium-sized enterprises (SMEs) and Export Oriented Enterprises (EOE) to cover wage compensation.

Since 2021, the MRA has been providing them with monthly financial support.

An approximate amount of Rs 61.6 million had been distributed to employers and employees as of the end of February 2024.

Employment Bonus Rs 497 million
The Employment Bonus, a measure introduced in the 2022-23 Budget and revised in the 2023-24 Budget, aims to boost employment for young Mauritians and women.

This monthly amount could reach up to Rs 15,000 in the first year of employment for 10,000 young people aged 18 to 35, and women up to 50 years old.

3,299 employees benefited from a total amount of Rs 166 million between July 2022 and June 2023.

For the fiscal year 2023-24, around Rs 497 million has been distributed to date.

Rs 28 million for bakeries
In September 2022, the government decided to provide additional subsidies to bakeries producing scheduled breads.

The aim was to offset the increased production costs of these breads and maintain retail prices in the market. This financial incentive came into effect on October 1, 2022.

For the year 2022-23, a total of Rs 16 million was paid to bakeries. Between July 2023 and February 2024, bakeries received a total of Rs 28 million.

Independence Allowance Rs 327.8 million
The Independence Allowance includes a one-time payment of Rs 20,000 to eligible young people who have reached the age of 18 on January 1, 2023, or after that date.

To date, 16,391 beneficiaries have received a total amount of Rs 327.8 million.

CSG Child Allowance Rs 581 million
Another government measure is the CSG Child Allowance, an amount of Rs 2,000 for children up to three years old.

Approximately Rs 60 million has been paid to nearly 30,000 beneficiaries each month since July 2023. As of the end of February 2024, a total of Rs 581 million has been distributed by the MRA.

Housing Loan Relief Scheme Rs 202 million
The government also committed to providing a monthly allowance of Rs 1,000 to individuals with a Home Loan not exceeding Rs 5 million.

There are 28,000 beneficiaries. A total of Rs 202 million has been disbursed by the MRA as of the end of February 2024.

Source: Defi Media

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