Doing a part time business alongside working full time
I am currently working in a full-time job, and would like to open a small part-time business. The business will be a service-oriented business, meaning no office or premises is required.
I gather that I need to register as self-employed for a Business Card at Companies Division (CBRD). Do I also need to register with the Municipality and pay an annual license fee? Any link where I can view the fees for different categories of business?
Also do I need to register anything with MRA and make annual returns? If so, given that the business is service-oriented, how can MRA check my figures to ensure if I am making any profit? (By the way, is tax paid on profit or turnover?)
Doing Business in Mauritius
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There is no minimum term or contract involved.
Yes you also need to register with your local Municipality. You will have to call them to find out how much you'll have to pay (usually between Rs5000-12000 per year).
You also need to register with MRA as self employed as this extra income would be taxable. You will need proof of income/expenses like receipts, bank statements showing money coming into your account or something similar.
You pay tax on profit so, gross income - total expenses.
And when registering the business, from one of your articles I see that "you can either set up a company or register as self-employed".
If I register as self employed, does it mean I have to register in my own name (e.g. "John Doe") or I can register as a business name eg "XYZ Services"?