Key Takeaways
- Mauritius does not levy a wealth or net worth tax, so foreign-owned businesses and their owners face no annual charge on accumulated assets.
- Companies, holding structures, trusts and foundations operate without a net-worth valuation or net-asset reporting regime tied to wealth taxation.
- Certain narrow charges may resemble a wealth tax but are distinct, and non-residents should recognise why they do not function as one.
- Reform signals and the current outlook are worth monitoring, though no wealth or net worth tax is in place at present.
Wealth & Net Worth Tax in Mauritius: An Introduction
Mauritius does not levy a wealth or net worth tax. No charge exists on the aggregate value of assets held by individuals, companies, trusts, or foundations, and nothing in the Income Tax Act 1995 or any Finance Act creates one. The tax system, administered by the Mauritius Revenue Authority (MRA), is built around income rather than the stock of wealth a person or entity holds.
This article explains what that absence means for a foreign owner or investor, where the legal basis sits, and which narrow charges occasionally get mistaken for a wealth levy. It is most relevant to high-net-worth individuals, family offices, and the advisers structuring cross-border holdings through the island.
Does Mauritius Levy a Wealth or Net Worth Tax? The Short Answer
No. There is no annual tax on net wealth or net worth anywhere in Mauritian law.
The position extends further than many jurisdictions. There is no inheritance, estate, or succession tax, no gift or donation tax, and no tax on capital gains.
Assets other than immovable property can be transferred by gift without triggering any tax charge. Capital gains, whether realised by a resident or a non-resident, fall outside the tax base entirely.
The MRA's published list of taxes covers income tax, VAT, customs and excise duties, and a handful of sector levies. A wealth or net worth tax appears in none of these categories.
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Legal Basis for the Absence of a Net Worth Tax (Income Tax Act 1995 and the Finance Acts)
The principal statute governing direct taxation is the Income Tax Act 1995, supported by the Income Tax Regulations 1996. Its tax base is defined around income and chargeable income, never the holding of assets.
There is no separate Wealth Tax Act in the Mauritian statute book, and no charging provision anywhere targets the aggregate stock of a taxpayer's assets. The absence is structural, not an exemption that could lapse.
Annual Finance Acts amend the income-tax regime, most often to adjust rates, levies, and measures aligned with the OECD's BEPS recommendations. None has introduced a wealth or net worth charge.
The 2018 overhaul of the tax framework concentrated on substance requirements and sector-specific rates. Net-worth taxation was not part of that reform, nor of the Finance Acts that followed.
What "No Wealth Tax" Means in Practice for Resident Individuals
For a resident individual, the practical effect is that you may build and hold a portfolio of equities, real estate, art, cash, or crypto without any annual charge on its value. No net-worth return exists, and no valuation of your asset base is required.
Resident individuals are taxed on worldwide income, but foreign-source income is taxable only to the extent it is received in Mauritius. Capital gains and income from dealings in units and securities are not taxed.
Personal income tax follows a simplified three-band structure effective 1 July 2025:
| Chargeable income (MUR) | Rate |
|---|---|
| Up to 500,000 | 0% |
| 500,000 to 1,000,000 | 10% |
| Above 1,000,000 | 20% |
A separate Fair Share Contribution applies to high earners. Where net income, including local dividends, exceeds MUR 12 million, a 15% charge falls on the leviable income above that threshold, effective 1 July 2025 for that income year and the two that follow.
That contribution is calculated on income, not on accumulated wealth. The distinction matters: it is a surcharge on what you earn, not on what you own.
The individual income year runs from 1 July to 30 June, with a return due to the MRA no later than 30 September.
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Implications for Companies, Holding Structures, Trusts and Foundations
No net-worth or balance-sheet tax applies at any entity level. Companies are taxed on income at a flat rate of 15%, never on the market value of assets they hold.
A partial exemption regime gives all companies, including Global Business Licence companies, an 80% exemption on specified categories of foreign-source income. Qualifying streams include foreign dividends not deductible in the source country, interest, ship and aircraft leasing income, and reinsurance income, subject to substance requirements.
Trusts and foundations are treated as companies for tax purposes. Other than charitable entities, they are generally subject to income tax at the 15% headline rate on worldwide chargeable income.
The Finance Act 2021 closed the route by which trusts and foundations filed an annual declaration of non-residence to obtain full exemption. Existing entities were grandfathered until the year of assessment 2024/2025; new structures cannot use it.
From 1 July 2024, trusts and foundations with turnover above MUR 50 million attract a 2% Corporate Climate Responsibility Levy. An Authorised Company, managed and controlled outside Mauritius, is treated as non-resident for tax purposes.
Dividends received from Mauritian resident companies are exempt from tax for both resident and non-resident companies. None of these charges touches the value of assets on a balance sheet.
Why High-Net-Worth Individuals and Investors Are Drawn to Mauritius's No-Wealth-Tax Regime
The appeal rests on what is absent. There is no wealth tax, no capital gains tax, no estate or inheritance tax, and no gift tax, a combination confirmed across independent sources including the PwC tax summary.
Capital gains arising outside the island are entirely non-taxable for residents and non-residents alike. Dividends from resident companies reach both individuals and corporate shareholders free of income tax.
The treaty network adds further weight. More than 45 double taxation avoidance agreements are in force, including with the UK, India, South Africa, Singapore, and France, supporting cross-border investment into Africa and the Indo-Pacific.
Selected activities qualify for tax holidays of up to ten years. These cover global headquarters administration, global treasury operations, global legal advisory services, and overseas family office and asset management licence holders.
The jurisdiction has long served as a platform for channelling capital into emerging markets such as India and the African continent. It maintains compliance with EU standards and is not on the EU list of non-cooperative jurisdictions, positioning itself as low-tax but high-compliance.
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Narrow Charges That Could Be Mistaken for a Wealth Tax (and Why They Are Not)
Several charges touch assets or large incomes, yet none is a periodic tax on net worth. Each is triggered by a transaction, a document, or an income stream rather than by the value of what you hold.
- Fair Share Contribution (individuals): 15% on leviable income above MUR 12 million, effective 1 July 2025 for three income years. The base is income.
- Fair Share Contribution (corporates): 5% of chargeable income (or 2% where the 3% rate applies) for corporates other than banks with chargeable income and supplies above MUR 24 million, effective 1 July 2025 to 30 June 2028. The base is income.
- Corporate Climate Responsibility Levy: 2% on chargeable income, including exempt income, for companies and resident sociétés with turnover above MUR 50 million, from 1 July 2024. The base is income and turnover.
- Land Transfer Tax: 5% on the transfer of land under the Land (Duties and Taxes) Act, payable by the transferor. A transaction tax, not a recurring charge.
- Registration Duty: 5%, payable by the transferee on the same transfer. Triggered only by the transaction.
- Campement Site Tax: MUR 2 to MUR 6 per square metre annually for owners of campement sites in specified coastal zones, due by 31 July. Narrow in scope, not a general wealth tax.
- Stamp Duty: MUR 25 to MUR 1,000 on documents at registration, transcription, or inscription. Purely documentary.
- CSR Fund: a fund equal to 2% of the preceding year's chargeable income. An income-linked obligation, not a wealth levy.
The recurring theme is the base. Where a charge falls on income, turnover, a transfer, or a document, it is not a tax on wealth held, however large the sums involved.
Asset Valuation and Net-Asset Reporting: Why No Wealth-Tax Valuation Regime Exists
Because no wealth tax is levied, there is no statutory requirement to submit annual net-asset statements or balance-sheet valuations to the MRA for wealth-tax purposes. Individuals, trusts, foundations, and companies file income declarations, not statements of worth.
The MRA runs a self-assessment system. Persons liable to a tax or duty file declarations at the end of the relevant period and pay accordingly; no wealth-tax return exists within it.
Valuation does appear in two limited contexts, neither of which is a periodic wealth assessment. The MRA may adjust an unacceptable inventory valuation basis to determine trading profits, which is an income concept, and transfer taxes are calculated on the fair value of real estate at the point of transfer, a one-time event.
CRS and FATCA obligations require financial institutions to report account information, with Mauritius participating reciprocally in CRS from 2018 and holding FATCA IGA status. These are exchange-of-information duties, not wealth-tax valuation requirements.
Will Mauritius Introduce a Wealth or Net Worth Tax? Current Outlook and Reform Signals
No proposal, consultative document, or Finance Bill provision to introduce a wealth or net worth tax has been identified. The government signals reform direction through annual Finance Acts, and recent ones have moved toward income-based levies on high earners and large corporates rather than asset-based taxation.
The Fair Share Contribution and the Corporate Climate Responsibility Levy both illustrate that direction. So does the Qualified Domestic Minimum Top-up Tax for multinational groups with consolidated revenue of at least €750 million, aligned with OECD Pillar Two and focused on corporate income.
Industry commentary, including from the OECD in its investment policy review, notes that BEPS-driven reforms have already created competitive pressure. The view among practitioners is that further increases risk weakening the island's standing as an investment hub, with a headline effective rate approaching 35% already cited as a concern for attracting foreign talent.
Neither EU nor OECD obligations would require a wealth tax. On the available evidence, introduction in the near-to-medium term looks unlikely, though no government has committed either way.
Conclusion
For a foreign business owner weighing where accumulated assets face the least structural friction, the absence of any net-worth valuation or reporting regime is the detail that carries the most practical weight, because it removes an entire compliance layer that exists in many comparable jurisdictions. That absence, not any single rate or treaty benefit, is what makes the wealth-tax question in Mauritius largely settled for now.
The one thread worth watching is whether reform signals harden into policy, since that shift would change the calculus for holding structures and trusts more directly than almost any other variable this article has covered.
How Expanship Can Help Your Business in Mauritius
Expanship confirms how the no-wealth-tax position applies to your specific structure and keeps the related income-tax filings accurate, while supporting the wider needs of a foreign-owned entity from formation through ongoing operation.
- Company incorporation, including Global Business and Authorised Company structures
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- Tax registration and preparation of income-tax returns
- Ongoing compliance and statutory filing management
- Accounting and bookkeeping aligned with local requirements
- Introductions to banking partners
To discuss your structure, contact Expanship Mauritius.
Frequently Asked Questions
No. There is no annual tax on net wealth or net worth, and no net-worth return is filed with the MRA. Residents are taxed on income, with foreign-source income taxable only to the extent it is received in the country.
They are not. The jurisdiction levies no inheritance, estate, or succession tax, and no gift or donation tax. Assets other than immovable property may be transferred by gift without any tax charge arising.
No. The Fair Share Contribution is calculated on income, not on assets held. For individuals, it applies at 15% on leviable income above MUR 12 million, effective 1 July 2025 for three income years; the corporate version targets chargeable income above MUR 24 million.
No. Companies are taxed on net income at a flat 15%, and trusts and foundations are taxed as companies on chargeable income. No charge applies to the market value of assets on a balance sheet.
No. There is no capital gains tax, and gains arising outside the jurisdiction are non-taxable for residents and non-residents alike. Income from dealings in units and securities is also exempt.
No proposal or Finance Bill provision pointing to one has been identified. Recent reform has favoured income-based levies over asset-based taxation, and no EU or OECD obligation would require a wealth tax, making near-term introduction unlikely.
Legal Disclaimer
The information provided in this article is for general informational purposes only and does not constitute legal, tax, or professional advice. While we strive to ensure the accuracy and timeliness of the content, laws and regulations are subject to change, and the application of laws can vary widely based on specific facts and circumstances.
Readers should not act upon this information without seeking professional counsel tailored to their individual situation. Expanship and its authors disclaim any liability for actions taken or not taken based on the content of this article.
For specific advice regarding your business setup, compliance requirements, or any legal matters, please consult with qualified legal and tax professionals in the relevant jurisdiction.
