African Payroll: Mauritius Tax Changes
On 2 June 2023, the Minister of Finance, Economic Planning, and Development presented the Mauritius National Budget 2023/2024.
We have summarised the changes applicable to payroll below. Importantly, the amendments will be effective from 1 July 2023 and will concomitantly affect employees’ remuneration from that date.
Tax Rate Changes
The tax tables applicable from 1 July 2023 have been amended to the following:
Solidarity Levy
The Solidarity Levy has long been a contentious issue; especially since it was increased to 25% over the threshold of Rs 3,000,000, capped at 10% of net income. We are extremely pleased that the budget has abolished the Solidarity Levy. This will significantly increase the net take-home pay of high earners.
Income Threshold Exemption
The threshold below which an employee does not pay tax has increased from Rs 325,000 per annum to Rs 390,000 per annum.
This 20% increase in the threshold will afford relief to the lower paid employees.
Deduction for Dependents
Categories B, C, D, and E of the income exemption thresholds have been replaced by deductions for dependents. These amounts have however remained unchanged:
Payroll Impact
The new tax rates and the increase in the tax band will lower the employees’ tax liability.
About Axiomatic
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