On 7 June 2022, the Mauritius Minister of Finance, Economic Planning, and Development, Renganaden Padayachy, delivered the Budget Speech 2022-2023. Some of the main tax-related measures of the Budget are summarized as follows:
- The annual individual income tax brackets/rates will be amended as follows, including a new rate of 12.5%:
- up to MUR 700,000 - 10%
- over MUR 700,000 up to MUR 975,000 - 12.5%
- over MUR 975,000 - 15%, plus the solidarity levy if applicable
- The Income Tax Act will be ame…