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A new policy stand from the Financial Services Commission (FSC) in Mauritius has been released on the 17th of January, 2022, with retrospective effect as from the 1st of January 2022. The news release concerns new and existing Global Business licensees’ requirements with regards to their Core Income Generating Activities (CIGA). 

Previously, the provisions of Section 71 (3) (a) of the Financial Services Act 2007 were amended, and the holder of a Global Business Licence is required to satisfy the conditions below: 

(i)           carry out its core income generating activities in, or from, Mauritius, as required 

                under the Income Tax Act (ITA), 1995; 

(ii)          be managed and controlled from Mauritius; and 

(iii)         be administered by a management company. 

In addition to these conditions which paved the way to a new partial tax exemption regime, the requirements laid down in the Income Tax Act (ITA) 1995 were soon consolidated with some salient features through the Income Tax Regulations (ITR) 1996.  Specifically, the ITR prescribed the relevant substance conditions to substantiate the core income generating activities, amongst others.  

The New Policy Stand – CIGA 

As from the 1st of January 2022, the FSC has clarified that the CIGA requirement would only apply to global business corporations (GBCs)  which would opt to claim the partial tax exemption of 80% on certain categories of income, provided that the prescribed substance conditions are met.  

We feel this new policy stand brings clarity as to the need of adhering to the CIGA requirement in conformity with the provisions laid down in the ITA and substance conditions prescribed under the ITR.


The Business Development Team 


26 Jan 2022