MEMBERS ONLY EVENT
MAURITIUS BUDGET SPEECH 2016 / 2017 ANALYSIS
The Hon Pravind Kumar Jugnauth, Minister of Finance & Economic Development presented the government’s plan for revenues and expenses for the coming financial year on the 29 July 2016.
03 August 2016: Strong Member Support for Chamber Budget Briefing
The South African Chamber of Commerce Annual Mauritius Budget Briefing took place this morning to a packed audience of members, guests and VIP’s.
Analysis was provided by Andre Bonieux from PricewaterhouseCoopers representing the private sector and Ken Poonoosamy from the Board of Investment representing the public sector.
The government’s fiscal objectives are intended to stimulate the economy through more stream-lined and digitised processes and larger incentives with respect to tax breaks. Efficiencies will be further enhanced with the proposed re-structuring of non-performing parastatals and more stringent controls over tax administration.
Other key elements of this year’s budget included a slight relaxation in property ownership by non-citizens, reductions in registration duty and land taxes and tax holidays for certain corporate entities and individuals.
Concerns from the private sector include the proposed government-controlled Metro mass transit system (grant from India earmarked for this project) and the enforced centralisation of CRS funds (50% – 75%) to a government CSR Foundation.
Kindly sponsored by:
Confident Asset Management
Since 1997, Confident creates & manages customised investment strategies for high net worth individuals and institutional clients in Mauritius and abroad. Licensed and regulated by FSC Mauritius, we operate an independent and privately owned portfolio management platform from Mauritius, a premier African regional financial centre.