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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
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
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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
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
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
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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
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