Mauritius Budget 2015: Mauritius Tax Payers Association demands increase the threshold of exemption
The association pronounced in favour of a general increase of Rs 15,000 of the scales of fiscal exemption granted to various categories of taxpayers, which would carry the deductible amount of every category. (Image: business.mega.mu)
Mauritius Tax Payers Association sent its recommendations to the financial Secretary, Dev Manraj, within the framework of the next Budget’s preparation, in which it insisted that taxpayers must be compensated for the loss of their purchasing power.
The association pronounced in favour of a general increase of Rs 15,000 of the scales of fiscal exemption granted to various categories of taxpayers, which would carry the deductible amount of every category.
The deductible amount for category A (employee with no dependent) to be estimated at Rs 290,000; Rs 400,000 for category B (employee with dependent); Rs 460,000 for category C (employee with two dependents); Rs 500,000 for category D (employee with three dependents); Rs 340,000 for category E (retiree with no dependent); and Rs 450,000 for category F (retiree with a dependent).
“We also asked the exemption of Rs 120,000 per year on the amount of interests collected on a real estate loan with guarantee for the purchase or construction of a first house to be widen to twenty years instead of five years,” stated Jean Pierre Jhumun, President of Mauritius Tax Payers Association.
The third proposal brought forward by the Association of the taxpayers touches the exemptions on the higher education.
“We wish that the exemption, to which families are entitled if their child is doing higher education, increases from Rs 80,000 to Rs 100,000 if the child studies in Mauritius, and from Rs 125,000 to Rs 200,000 if he studies abroad,” Jean Pierre Jhumun said.
Another recommendation is about an increase of the deduction for those who signed to a medical or health insurance.
The association recommended that the maximal deduction, which is currently Rs 12,000, be upped to Rs 15,000 at the same time for the taxpayer and the dependents.