Mauritius | Finances

September 15, 2013

Taxation: Two Weeks To Come Into Compliance With MRA

The riders of the tax have until September 30 to come into compliance with the IRS. If you'''' failed to report income in the tax payment, you can still do so and pay the amount due to the Mauritius Revenue Authority, without paying penalties and other sanctions that follow. After this date, the carrots are cooked for offenders.

It is immunity programs established under the named " Tax Incentive Schemes " regime. The four incentive programs ( incentives) , as announced in the last Budget speech - ( VRIS , VDIA , TASS and SLID ) had been renewed in 2013. That after the previous year in 2012 allowed the State to recover nearly Rs 1 billion. The IRS intends to recover Rs 400 million by the end of this year with these programs.
By adhering to these programs , taxpayers have the option of paying only the tax due , the MRA completely eliminating interest and penalties. However, it is already too late to benefit from VAT Registration Incentive Scheme ( VRIS ) because we had to register before June 30, 2013. The other programs are still open until the end of this month .
According Ludovic Thanay , spokesman of the MRA , "This is a final call to taxpayers concerned to take advantage of these programs to come into compliance with the IRS by paying only the tax due to the State. After September 30, 2013, the MRA will continue its tax investigations and riders must comply with the laws in force in all their rigor . "Among the incentive programs , we note in particular the Voluntary Disclosure of Income / Under Declared VAT Arrangement ( VDIA ) .
This plan allows taxpayers who failed to report or underestimated their income or VAT voluntarily come forward to regularize their situation . This initiative focuses on the following taxes : direct taxes for individuals in all years until 31 December 2011 , the corporate tax for all years including the year 2012 , and VAT for all taxable periods until 30 September 2012 .
For anyone who decides to join the VDIA incentive program , the benefits are many . Registrants will not have to pay surcharges if the tax due is ended before 30 September 2013, there will be no interest for income tax , a rate of 15 % will apply regardless is the year in question and VAT, input tax will not be limited to 24 months. It will be given throughout the period of the report.
The VDIA is accessible to anyone who wants to make a statement, unless it is subject to a criminal investigation or has been convicted of a crime related to drug trafficking or weapons , terrorism , money laundering or corruption. The VDIA also applies to contentious cases or who are or appeal , provided that the taxpayer waives his appeal.

 

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