Doing Business in Mauritius
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Do I need to pay taxes if I'm working independently in Mauritius?
I want to know if someone works independently in Mauritius and receives money via wire, does he need to pay taxes?
If let's say someone wires over RS100,000 To My Bank Account do i need to pay any tax or answer the bank in any way?
Does the bank suspect these things?
Please note that I don't earn per month, there are some months the money come and some months i have to live without any.
What if there is any tax, will it be accountable the month i don't receive money? The money i receive is all at once not month by month.
Any money you earn is subject to tax. However there is a certain threshold whereby the profit is exempted. For example, if you receive less than Rs255,000 in a tax year (from Jan to Dec), then you won't have any tax to pay although you need to still fill in your tax return to MRA.
Tax is not calculated on a month by month basis but rather for a whole year.
The moment the money goes into your bank, you better declare it as banks have all sorts of money laundering checks in place and they work with governmental bodies to unveil people who are trying to evade/avoid tax.
Any more questions, just let me know :)