We are pleased to bring you the very first edition of Evolve – Tax News. In this issue, you will find changes on the tax treatment of disposal of shares in Mauritius. We also share our views on the Kenya High Court’s verdict on the Mauritius - Kenya tax treaty as well as a summary of the latest world tax news. Finally, we are pleased to get you acquainted to our new Tax Manager, Mrs Shameemah Abdool Raman-Sahebally. Click here to read her profile. Evolve – Tax News will be regularly published, be sure to look out for the next one. Enjoy the read! The Tax Team
Gains on disposal of shares – Tax exempt for all!
Did you know that “gains or profits derived from the sale of units, securities or debt obligations by a person” is exempted from tax in Mauritius? Since 1st January 2019, the gains or profits are exempted for all.
Since 1st March 2019, bread has been classified as a zero-rated supply good. This allows VAT registered bread suppliers to claim credit for any input tax incurred in the production and distribution of bread. Bread suppliers who are currently not VAT registered may consider applying for same.
International Tax News
We take a step on the international stage to bring you tax news from the world. From the Singapore BEPS Treaty Amendments, the UK’s Upcoming VAT Reform Initiatives to the new tax proposals in the South Africa 2019 Budget, stay up to date with all the major changes.