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The Trusts Act 2001 provides the legal framework for the
establishment and creation of a wide variety of trusts in Mauritius, namely charitable, discretionary, purpose and trading trusts.
Reasons for creating a Trust :
- Protection against high taxation
- Protection against economic instability
- Obtaining confidentiality
- Organising collective investment
- Holding property that cannot personally be held
- Protection against spendthrifts
- Promoting causes and charities
- Protection of assets
- Estate planning
Taxation of Trusts
A Trust is liable to income tax at the rate of 15% if the Settlor is non-resident or holds a Category 1 or 2 Global Business licence or is another trust that qualifies similarly and at the same time the beneficiaries are, throughout the income year, non-resident or hold a Category 1 or 2 Global Business Licence (GBL1) or is a purpose trust whose purpose is arried out outside Mauritius.
Such Trust will benefit from the presumed foreign tax credit which is currently 80% or may deposit a declaration of non-residence for any income year with the Mauritius Revenue Authority within 3 months after the expiry of the income year, it shall then be exempt from income tax in respect of that income year.
Our Services
- Advice on tax, regulatory and statutory matters
- Trust formation
- Corporate Trusteeship
- Accounting, administration and management
- Tax filings where required.
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