Answer ... A company must submit, within six months of the end of the month in which its accounting period ends, a return declaring all income derived in the preceding year and at the same time pay any tax payable thereon. This is called the ‘annual return’.

In addition to the annual return, companies must file, under the Advance Payment System (APS), quarterly APS statements and pay tax accordingly. However, the APS does not apply to a company with an annual turnover of under MUR 10 million.

Answer ... In addition to penalties for late filing, a penalty of 5% of the tax due is levied in case of failure to submit certain returns.

The Mauritius Revenue Authority can also charge interest.

Agents of the company (ie, the secretary, manager or any other principal officer) have a duty to ensure that the company is tax compliant. Actions may be entered against the agents directly in relation to the tax due.

Answer ... Mauritius has implemented country-by-country reporting legislation and also exchanges information under the Common Reporting Standard and the US Foreign Account Tax Compliance Act. This is in addition to exchange of information obligations that apply under bilateral tax information exchange agreements.