Increase in Registered Businesses and Tax Revenues
The Prime Minister reports 8,764 new registered businesses generating significant revenue.
During a parliamentary session held on August 4, Prime Minister and Minister of Finance, Navin Ramgoolam, announced impressive results regarding the registration of businesses for value-added tax (VAT). During this period, a total of 8,764 new businesses were registered, generating Rs 655 million in tax revenues.
This notable increase in the number of registered businesses is partly attributed to the decision to lower the VAT registration threshold from Rs 6 million to Rs 3 million. This measure aims to encourage more entrepreneurs to register and contribute to the formal economy of the country. In contrast, only 84 businesses deregistered, indicating a positive balance in terms of registrations.
The Prime Minister also recalled the evolution of VAT registration thresholds. In the past, the threshold was set at Rs 2 million, and recent adjustments reflect the government’s efforts to adapt the tax system to the needs of businesses.
These figures demonstrate a favorable economic dynamic and a conducive environment for entrepreneurship in Mauritius, thus supporting the government’s efforts to stimulate economic growth through the expansion of the tax base.
L’équipe éditoriale de ZotNews. Une rédaction indépendante qui vérifie et cite ses sources pour informer l’île Maurice.
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