Mauritius Is Changing Its Tax Rules In A Significant Way

Category 1

Global Business License

• Effective from 1 January 2019, the Deemed Foreign Tax Credit ("DFTC") regime will be abolished and GBL companies will be taxed at the rate of 15%
• Introduction of an 80% Partial Exemption Regime on certain income streams, subject to pre-defined substance requirements
• Existing GBC1 companies, where licenses were issued on or before 16 October 2017, will be grandfathered until 30 June 2021. Licenses issued after 16 October 2017 will be grandfathered until 31 December 2018

Category 2

Global Business License

• Effective from 1 January 2019, the Category 2 Global Business Licence ("GBC2") will be abolished
• Existing GBC2 companies, where licenses were issued on or before 16 October 2017, will be grandfathered until 30 June 2021. Licenses issued after 16 October 2017 will be grandfathered until 31 December 2018.