Mauritius | Finances

October 11, 2013

MRA Target Business

Since this morning, the Mobile Monitoring Team of the Mauritius Revenue Authority (MRA) is on the go. The officers assigned to that unit actively conduct an audit of traders, 15,000 in total, which are registered for VAT.

This operation aims to track down those who do not comply with the legal provisions of the VAT Act. The shortfall is estimated at more than Rs 100 million. By law, offenders are liable to a fine of Rs 50,000 and imprisonment not exceeding three years.

At the Mauritius Revenue Authority, it is argued that the VAT is a major source of revenue for the state, representing more than 40% of the taxes collected. The tax authorities have said a list of traders suspected of circumventing the law. This, through the formula of Risk-Based Approach (RBA). According to the benefits of this exercise, there are several large businesses involved. "The law will be applied in all its rigor," said the MRA. The latter said to be more determined than ever to tackle this scourge, which lost millions of rupees to the state.

The Mauritius Revenue Authority (MRA) is asking consumers to ensure that traders who are registered for VAT (note: they are required to display a yellow sticker on which is printed the word VAT in their trade) submit their bills purchase.

"There is no reason why a trader should ask you if you need your receipt. It is incumbent on you with your invoice after payment. At least he is trying to change its revenues and avoid paying taxes, "said an officer of the MRA.

However, our interlocutor suggests that many traders who do not meet this legal obligation. "Our investigation revealed that the shortfall for the state of non-payment of VAT amounts to more than Rs 100 M. This explains our approach to audit the accounts of traders," said the same source . Thus, since Wednesday, the IRS sent a letter to some 15,000 registered traders to inform them of their civic duty and the risks they face if they are not in order.

According to the VAT Act, offenders are liable to a fine of Rs 50,000 and imprisonment not exceeding three years. For this fiscal year, the MRA expects to collect about Rs 64.7 billion. Note that each year, the tax revenue of the State increased from Rs 34.1 billion in 2007 to Rs 58 billion in 2012. 

 

Text by Le Matinal
 

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