What is CSG? CSG is Contribution Sociale Généralisée as payable under the National Pension Act by every participant and every employer of a participant, as applicable.
How is CSG calculated in Mauritius?
Personal Tax
Effective as from 01 September 2020, contributions payable under the CSG system are as follows on: Monthly salary up to Rs50,000 – 1.5% by employee and 3% by employer. Monthly salary exceeding Rs50,000 – 3% by employee and 6% by employer.
Is end of year bonus taxable in Mauritius?
Where an exempt person is in receipt of an end-of-year bonus and leave pay prescribed in any enactment in his favour, no tax will be withheld from that bonus and leave pay. The bonus should be treated as emoluments of a separate month and tax should be calculated on a cumulative basis.
Is pension taxable in Mauritius?
Basis – Mauritius residents are taxed on Mauritius-source income and foreign income remitted to Mauritius. Nonresidents are taxed only on Mauritius-source income. Taxable income – Taxable income includes employment income, pensions, income from a trade or profession, rent, and interest.
How is PAYE calculated in Mauritius?
The amount of tax to be withheld from the emoluments of each pay period is calculated on a cumulative basis by cumulating both the emoluments and total exemptions and reliefs (total deductions) pertaining to the current and previous pay periods in the income year concerned.
What’s a good salary in Mauritius?
A person working in Mauritius typically earns around 46,400 MUR per month. Salaries range from 11,700 MUR (lowest average) to 207,000 MUR (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.
How is Mauritius end of year bonus calculated?
Calculation of end-of-year bonus: The end of year bonus is now based on one twelfth of ‘earnings’ accrued during the calendar year, or on the last monthly (pro-rated) basic salary, whichever is higher.
What is the minimum salary in Mauritius?
The minimum wage in Mauritius has been raised with effect from 1 January 2020. The new minimum wage rate is 9000 Mauritius rupees for export workers and 9700 rupees for non-export workers. Workers also have access to additional remuneration which is 1200 rupees for export workers and 500 rupees for non-export workers.
Is basic retirement pension taxable in Mauritius?
Any retirement pension not exceeding the Income Exemption Threshold (IET) in respect of Category A payable to a citizen of Mauritius who is not resident in Mauritius. An employee whose emoluments do not exceed Rs 25, 000 per month is an exempt person and is not subject to tax deduction under the PAYE System.
Is Mauritius a tax haven?
Advantages of Mauritius as a Tax Haven
Mauritius has one of the lowest tax platforms in the world. Both corporate and individual income taxes are at 15%. Offshore businesses located in Mauritius that do not do business with Mauritians nor use Mauritian currency are exempt from Mauritian taxes.
How much is the old age pension in Mauritius?
Basic old-age pension (universal): 5,450 rupees a month is paid if aged 60 to 89; 15,450 rupees if aged 90 to 99; and 20,450 rupees if aged 100 or older.
What is the formula to calculate PAYE?
Step 1. Gross Income = Basic salary + allowances + commissions. Step 2. Taxable Income = Gross Income – all deductions/exemptions allowed by law e.g. NSSF, private pension.
How much tax do I pay for sole trader?
A sole trader business structure is taxed as part of your own personal income. There is no tax-free threshold for companies – you pay tax on every dollar the company earns. The full company tax rate is 30%.
What is NPF in Mauritius?
National Pensions Fund (NPF)
Contributions to the NPF are payable by the employer at 6% of cash remuneration, up to a maximum remuneration of MUR 18,740 per month. Employees contribute to the NPF at 3%, subject to a maximum amount of MUR 562 per month.