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Implementation of Negative Income Tax brought forward by six months, says Prime Minister

Date: October 02, 2017
Domain:Economy & Finance
Persona: Business; Citizen; Government; Non-Citizen
 

GIS - 02 October, 2017: The implementation of the Negative Income Tax is being brought forward by six months, that is 1 July 2017 instead of 1 January 2018, said the Prime Minister, Mr Pravind Jugnauth, after the Cabinet Meeting on 29 September 2017 in a statement to the Mauritius Broadcasting Corporation.  
Moreover, Mr Jugnauth outlined that the introduction of the Negative Income Tax system will provide financial support to some 150 000 employees in full time employment, and earning emoluments less than or equal to Rs 9 900 monthly. Government is doing its best to implement this measure, he added.
 
The Negative Income Tax allowance is payable to the following eligible employees, that is those drawing a monthly earning of less or equal to Rs 5 000, will receive a monthly payment of Rs 1 000 while those earning above Rs 5 000 but less or equal to Rs 7 000, will obtain Rs 800. Employees who earn above Rs 7 000 but less or equal to Rs 9 000, will be given a monthly payment of Rs 500 and those who with a monthly income of above Rs 9 000 but less or equal to Rs 9 750, will get Rs 250. On the other hand, employees earning above Rs 9 750 but less or equal to Rs 9 900 monthly, will receive Rs 100 as monthly payment.
 
The Prime Minister recalled that this measure was proclaimed in his summing up speech to the Finance (Miscellaneous Provisions) Act 2017, and to the payment of the appropriate allowance being effected on a quarterly basis. Consequently, sections 26(zk) and (zr) of the Finance (Miscellaneous Provisions) Act 2017 relating to the Negative Income Tax will be proclaimed, and the Income Tax (Negative Income Tax Allowance) Regulations 2017 will be promulgated to enable the implementation of the system.
 
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: gis@govmu.org  Website:http://gis.govmu.org
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