20 years of service to the Mauritian Global Business industry
Statement of Assets and Liabilities submission postponed to September 2018
If you derive a net income and exempt income exceeding MUR 15M or own assets exceeding MUR 50M, you are required to submit a Statement of Assets and Liabilities (SAL) electronically with your annual tax return.
The SAL was initially due for submission by 02 October 2017 but following representations made, the Mauritius Revenue Authority (‘MRA’) has extended the deadline to 30 September 2018.
While the extension is welcomed, further clarifications from the MRA on certain grey areas would be helpful. For example:
- What cost, if any, will be assigned to an inherited asset?
- How will inherited cash be treated?
- What basis should be used to estimate the cost of the asset where this is not available?