Mauritius | Finances

January 09, 2013

Cancellation of Vat Registration : Tax Relief Favoring SMEs

The novelty of this fiscal year for the Small and Medium Enterprises (SMEs) is the "Cancellation of VAT Registration" to operators with a turnover of less than Rs 4 million to avoid paying VAT on their income. Previously, the threshold was Rs 2,000,000.

A deregistration from the IRS database and enable small and medium operators tax relief. The President of the Association of SMEs, Deerpalsingh Amar says that SMEs had campaigned for this measure which, according to him, should increase the competitiveness of SMEs.

"With this relief, it is a burden for businesses making less than Rs 4 million turnover. Thus, their competitiveness can only get better, "he says. Bodes well for sector that, he says, suffer from competition from imported products fluently.

But the downside, says Amar Deerpalsing is the risk run by some operators who no longer appear on the database of the Mauritius Revenue Authority (MRA) to lose customers. "Some customers require their suppliers to be 'Registered VAT', and some may not understand that companies are not registered," he says.

Cancellation of VAT Registration will commence on April 1. But the forms of cancellation must be sent to the MRA by 15 March. All registered and should continue to apply VAT and pay tax until their registration is canceled officially.

Since January 7, the MRA has made available to entrepreneurs wishing to be affacés the database VAT, a 'help desk' to Ehram Court. The cancellation form is also available on the website of the MRA (www.mra.mu). A hotline on 207 6035 was also made available to operators.

 

 

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