20 April 2016 Mauritius reduces statute of limitations for income tax assessments In its first budget, Mauritius's new Government announced a reduction of one year in the statute of limitations so that an assessment can only be made within four years from the date the annual tax return is submitted. In accordance with section 55(1) of the Finance (Miscellaneous Provisions) Act 2015 (FMPA 2015), this amendment is in force as from June 1, 2016 (the effective date) under Proclamation No. 10 of 2016 (PN 10 2016). In addition to a reduction in the statute of limitations, the Mauritius Revenue Authority will also be precluded from issuing any assessment in the case of willful neglect; the new time limit can only be overridden if the approval of the Independent Tax Panel has been obtained. Document ID: 2016-0720 |
