Mauritius published the Finance (Miscellaneous Provisions) Act 2019 in the Official Gazette on 25 July 2019. The Act provides for the implementation of measures announced as part of the 2019-2020 Budget. The main measures of the Act are summarized as follows:
Controlled Foreign Company Rule
A new controlled foreign company (CFC) rule is introduced, which includes that where a resident company carries on business through a CFC and the Director-General considers that the non-distributed in…