Budgetary Measures

Budgetary Measures 2017-2018

New institutional Framework SME Mauritius to replace the Small and Medium Development Authority (SMEDA)
Strategy for the SME sector SME 10 Year Master Plan – Budget for implementation Rs. 100M over 3 years. SME 10 Year Plan available here
Ease of finance
DBM to provide credit facilities of SMEs at interest rate of 6% and micro-enterprises at the rate of 3%
SME's profits from Exports of LEMS of goods will be taxed at 3% instead of 15%.
Movable asset to be used as loan collaterals
Export Financing Facility - loans at concessionary rates
VAT Refund Scheme-Small Planters List of equipment extended to tea cultivators. New items to be added to exsting list of
qualifying equipment
Tax Deduction at Source-Royalty income derived by a Mauritian from an artistic or literary work will not be subject to TDS.
New companies/ Start Ups
8 Year Tax Holiday for new companies (incorporated after 8th June 2017) engaged in
  • 1/ The manufacture of pharmaceutical products, medical devices and high tech products
  • 2/ The exploitation and use of Deep Ocean Water for providing air conditioning installations, facilities and service
  • 3/ In innovation-driven activities on the income derived from the totality of Intellectual Property Assets
  • 4/ Aqua-culture and other value added ocean economy related activities
  • 5/ Innovation Box Regime for Intellectual Property assets developed in Mauritius and 8 year tax holiday on the income derived from the totality of Intellectual Property Assets for new companies involved in innovation-driven activities
  • Made in Moris
    Cost of Membership to Made in Moris: Rs 5000
  • Visibility and marketing
    New market fairs at Goodlands, Bel Air, Chemin Grenier and Mahebourg
  • SME Portal
    SME e-platform to provide visibility to SME products
Source: Budget Speech 2017-2018

Budgetary Measures 2016-2017

Trade fees All SMEs (except gambling, liquor and cigarettes) will be exempted from payment of Trade Fees which are under Rs 5,000 for 3 years.
National SME Incubator Scheme Creation of a National SME Incubator Scheme with a matching grant of Rs50M.
Creation of Industrial/Business Parks Setting-up of a pilot Agri-Business Park at Highlands covering 100 acres. Setting-up of 2 new SME Industrial Parks at Plaine Magnien and Vuillemin. Conversion of the DBM Industrial Zone at Coromandel into an integrated SME Industrial Park.
Sectoral overview
Ease of finance
SME Financing Scheme Extension of the SME Financing Scheme for 3 years. Opening up the scheme to individual entrepreneurs. Interest rate brought down from 7.4% to 6 %.
Leasing Equipment Modernisation Scheme (LEMS) Reintroduction of LEMS to provide greater access to leasing finance.
Fast Track Desk Setting up of a Fast track desk at DBM for micro-enterprises.
SME Venture Capital Fund Merger of NRF Equity Fund and SME Partnership Fund into an SME Venture Capital Fund with a capital of Rs500M.
Factoring Services Factoring services to small businesses with a line of credit of Rs100M will be set-up by the Government
Pre-Market Test and Certification Scheme A grant of up to Rs. 200,000 for a maximum of 5 products will be offered per eligible enterprise to assist them meet costs of pre-market test and certification of their products in line with the provision of the Food Act 1998.
Income tax holiday
* Qualifying activities:
1. ICT and other export services
2. Manufacturing
3. Bio-farming and other value added agri-business activities
4. Aqua-culture and other value added ocean economy related activities
5. Renewable and green energy
6. Handicrafts
7. Other productive sectors that will create employment
Objectives
  • National SME Incubator Scheme To support and mentor young entrepreneurs
  • New industrial parks To promote modern production techniques
  • LEMS To provide greater access to leasing finance
Source: Budget Speech 2016-2017

Australia

June 1995
Australian Chamber of Commerce and Industry (ACCI)

Austria

September 2014
Austrian Federal Economic Chamber

China

April 1997
China Council for the Promotion of International Trade (CCPIT) - Beijing
China International Economic and Trade Arbitration Commission - Shanghai
November 1998
CCPIT Guangdong Sub-Council
September 2008
CCPIT Qingdao
May 2007
CCPIT Qingdao

Comores

April 2017
L´Union des Chambres de Commerce, d´Industrie et d´Agriculture

Djibouti

August 2008
Chamber of Commerce of Djibouti

Estonia

September 2015
Estonia Chamber of Commerce and Industry

France

September 1996
l’Assemblée des Chambres Françaises de Commerce et d’Industrie (ACFCI)

India

November 1985
Federation of Indian Chambers of Commerce and Industry (FICCI)
May 1996
Confederation of Indian Industry (CII)
June 1995
Tamil Nadu Chamber of Commerce and Industry
January 2004
India International Trade Center
May 2004
Seafood Exporters Association of India
October 2005
Seafood Exporters Association of India

Kenya

January 2011
The Kenya National Chamber of Commerce and Industry (KNCCI)

Madagascar

November 2004
Fédération des Chambres de Commerce, d’Industrie, d’Artisanat et d’Agriculture de Madagascar

Malaysia

August 1994
The National Chamber of Commerce and Industry of Malaysia
June 2005
Malaysian Associated Indian Chambers of Commerce and Industry

Mozambique

September 2012
Chamber of Commerce of Mozambique

Nigeria

June 2019
Nigeria Association of Chambers of Commerce and Industry, Mines and Agriculture

Pakistan

October 2004
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI)

Réunion

June 1995
Chambre of Commerce and d’Industrie de la Réunion
March 2002
L’Association pour le Développement Industriel de la Réunion

Russia

May 2007
Chamber of Commerce and Industry of the Russian Federation

Seychelles

November 2005
Seychelles Chamber of Commerce and Industry
April 2014
Seychelles Chamber of Commerce and Industry

Slovakia

September 2018
Slovak Chamber of Commerce and Industry (SCCI)

South Africa

September 2016
South African Chamber of Commerce and Industry

Sri Lanka

May 2004
National Chamber of Commerce of Sri Lanka

Taiwan

September 2017
Taiwan External Trade Development Council

Tanzania

January 2011
The Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA)

Thailand

August 2004
The Federation of Thai Industries (F.T.I)
February 2013
TUSKON

Turkey

August 2014
DEIK (Foreign Economic Relations Board)
TOBB (The Union of Chambers and Commodity Exchanges of Turkey)

Business Resources

CBC
03 Jun 2019 SME Marketplace

COMESA SME Digital Financial Inclusion Plan

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Workshop on Addressing Financial Challenges faced by SMEs
15 Jul 2016 SME Marketplace

Workshop on Addressing Financial Challenges faced …

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SME Marketplace
18 Apr 2016 SME Marketplace

Workshop on 'The importance of Standards and Certi…

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Lancement du MCCI SME Marketplace
16 Feb 2016 SME Marketplace

Lancement du MCCI SME Marketplace

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  • Budgetary Measures