195,000 Tax Returns Submitted Ahead of Approaching Deadline

As of the last count, the Mauritius Revenue Authority (MRA) announced that 195,000 taxpayers have already submitted their tax returns electronically for the tax year ending June 30. With just 72 hours remaining before the deadline for income tax payments, the MRA anticipates that this figure could easily surpass 200,000 by today.

The official deadline for submissions is set for Tuesday, October 15, 2024. Following this date, any taxpayer liable under the Income Tax Act who fails to submit their return will face penalties.

The MRA specified that individuals required to file electronically and who do not comply will incur a fine of Rs 2,000 per month, up to a maximum of Rs 20,000.

However, for small enterprises with an annual turnover not exceeding Rs 10 million, or individuals who are not engaged in business, the maximum penalty is limited to Rs 5,000.

According to the MRA, a standard tax return must be submitted by anyone who earned annual income exceeding Rs 390,000 by June 30, has business income surpassing Rs 2 million, received emoluments subject to the Pay As You Earn (PAYE) scheme, or has income that is taxable under the Tax Deduction at Source (TDS) provisions.

Taxpayers have several options for submitting their returns. They can visit the Customer Service Centre and Cash Office at the MRA headquarters in Port-Louis until Tuesday at 8 PM.

Alternatively, they may use the e-Appointment Facility available on the MRA website or interact with MyRA, a virtual assistant designed to help individual taxpayers 24/7.

As in previous years, the MRA encourages taxpayers to participate in the Taxpayer Satisfaction Survey (TSS) following their tax return submissions. By participating, taxpayers will automatically enter a draw scheduled for Tuesday, October 29, 2024.

Three cash prizes will be awarded to lucky winners: Rs 25,000 for the first place, Rs 15,000 for second place, and Rs 10,000 for third place.

With the deadline fast approaching, the MRA is urging taxpayers to file their returns promptly to avoid penalties and is encouraging participation in its satisfaction survey for a chance to win cash prizes.

Source: Le Mauricien