Mauritius: Finance Act 2016 includes penalties for amended tax returns

Mauritius: Penalties for amended tax returns

The Finance Bill 2016 was enacted 7 September 2016, and contains tax measures announced in the budget. The measures generally were approved by parliament without major changes from the budget. Among the provisions is one that imposes a penalty when companies file amended tax returns.

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Previously, companies were able to file amended tax returns without any penalties being imposed, unless there were additional tax liabilities reported on the amended return. The Finance Act 2016, however, revises this rule and provides that a penalty of MUR 2,000 per month (up to a maximum of MUR 20,000) will be applied when an amended tax return is filed (i.e., the amended return is filed after the statutory filing date). 

 

Read a September 2016 report [PDF 288 KB] prepared by the KPMG member firm in Mauritius: Finance Act 2016 – Amended Tax Returns

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