Tax Arrears Settlement Scheme

The MRA has introduced the Tax Arrears Settlement Scheme (TASS). This is a scheme that encourages taxpayers owing arrears of tax and duty to the MRA to settle the debt promptly. TASS covers arrears of Income Tax, VAT, Gaming Tax and Betting Duty still outstanding as at 8th June 2017 under a return submitted or an assessment raised on or before 30th June 2015. Tax and duty due under an assessment which is pending before the Assessment Review Committee (ARC), the Supreme Court or the Judicial Committee of the Privy Council are not covered under TASS. The incentive given by the TASS is that 100% of the penalties and interests charged will be waived, provided the taxpayer makes an application to the MRA before 31st March 2018. The amount of penalty or interest to be waived will be written off in the books of the MRA only, when the total tax has been settled on or before 31st May 2018. Where the total tax liability is not paid by 31 May 2018, any waiver of penalty and interest shall lapse and the total tax, penalty and interest shall become payable and recoverable.

Locations

Mauritius

Services

Corporate

Type

Insight

Share
Twitter LinkedIn Email Save as PDF
More Publications
19 Feb 2024

Disciplinary Committees and the requirement of fairness and impartiality

Every company should ensure that it has established in its internal policies and procedures, a fair ...

17 Jan 2024

Derivative Action: A shareholder’s remedy to protect the interests of the Company

Generally, when there is a wrongdoing committed against a company, it is the company itself which ac...

15 Sep 2023

The Financial Services Commission issues the Financial Services (Global Shared Services) Rules 2022

On the 20th December 2022, the FSC issued the Financial Services (Global Shared Services) Rules 2022...

15 Sep 2023

Employer's perspective: What to expect in a settlement agreement?

What is a ‘Settlement Agreement’? One of the innovations of the Workers’ Rights Act (‘Act...

13 Mar 2023

New rules to boost the regulatory framework of Mauritius International Financial Centre

The Financial Services Commission introduces new rules in support of the new business activity of sh...

20 Dec 2022

Non-Fungible Tokens: Guidance notes issued in Mauritius

The Financial Services Commission (FSC) continues to propel its Fintech sector with a view to streng...

18 Nov 2022

Appleby Mauritius Newsletter, Nov 2022

There have been interesting developments in our legal landscape since our last issue with the Govern...

17 Nov 2022

Mauritius Case-Law Summary November 2022

This is a summary of recent cases likely to influence the practice of global business in Mauritius.

17 Nov 2022

The Statutory Requirement for a Debenture Holders’ Representative in Mauritius

A debenture is essentially a debt instrument which is traditionally not supported by any collateral ...