Accounting and Compliance in Mauritius

Why compliance is essential

Every company registered in Mauritius is subject to a set of accounting, tax and regulatory obligations whose fulfilment conditions the maintenance of its licence, access to tax advantages and its credibility with banking and commercial partners. The Mauritian regulatory framework, supervised by the Financial Services Commission (FSC), the Mauritius Revenue Authority (MRA) and the Registrar of Companies, is aligned with OECD and FATF international standards.

Non-compliance with obligations can lead to significant consequences: financial penalties, licence suspension or revocation, removal from the register of companies, and in the most serious cases, criminal proceedings against directors. Beyond sanctions, a non-compliant company loses its ability to operate effectively: banks may close its accounts, commercial partners turn away, and access to tax treaties is compromised.

In an international environment where tax transparency and regulatory compliance have become imperatives, Mauritius has considerably strengthened its requirements. The country is on the EU whitelist and complies with CRS, FATCA standards and FATF recommendations, which requires a high level of rigour from every entity registered on its territory.

Our accounting services

Sunibel Corporate Services, as an FSC-licensed management company, offers a comprehensive range of accounting services tailored to the needs of GBC companies, Authorised Companies and local companies.

Bookkeeping

Regular bookkeeping is the foundation of all compliance. We handle the recording of all financial transactions of your company, bank reconciliation, monitoring of receivables and payables, and cash management. Accounts are maintained in accordance with IFRS or IFRS for SMEs, depending on your company's category.

Preparation of financial statements

We prepare your company's annual financial statements: balance sheet, income statement, cash flow statement and notes. These documents are prepared in compliance with applicable accounting standards and form the basis of tax filings and the filing with the Registrar of Companies. For GBC companies, financial statements must be submitted to the FSC within the prescribed timeframes.

Management accounting and reporting

Beyond statutory obligations, we offer management accounting and reporting services enabling directors to have a clear view of their company's performance: cost centre analysis, budget monitoring, financial dashboards and key performance indicators.

Tax filings

Meeting tax deadlines is an imperative obligation for any company operating in Mauritius. The main filings include:

• Corporate Income Tax Return: annual corporate tax return, to be filed with the MRA within six months of the close of the financial year. It includes the calculation of taxable profit, allowable deductions and, where applicable, the partial exemption claim under the Mauritian corporate tax framework
• Annual Return: annual filing with the Registrar of Companies confirming the company's statutory information (directors, shareholders, registered office, secretary). Must be filed within 28 days of the incorporation anniversary
• VAT returns: for VAT-registered companies, monthly or quarterly VAT returns to the MRA, including output VAT and input VAT
• PAYE (Pay As You Earn): withholding tax on employee salaries, to be reported and remitted monthly to the MRA
• CSG (Contribution Sociale Generalisee): employer and employee social contributions, reported and remitted monthly

Regulatory compliance

Regulatory compliance obligations go beyond taxation and encompass the entire legal and regulatory framework applicable to your company.

CRS and FATCA reporting

Companies classified as Financial Institutions or Investment Entities under CRS are required to collect the tax identification information of their clients and beneficiaries, and report it annually to the MRA. Non-compliance exposes the company to substantial penalties and may affect the compliance status of Mauritius at the international level.

Anti-money laundering (AML/KYC)

Mauritian legislation on anti-money laundering and counter-terrorist financing imposes strict obligations: verification of client and beneficial owner identity, ongoing transaction monitoring, document retention for at least seven years, and reporting of suspicious transactions to the Financial Intelligence Unit. Sunibel Corporate Services, as a Management Company, fulfils these obligations on behalf of the companies it administers.

Beneficial ownership register

Since the entry into force of beneficial ownership transparency provisions, Mauritian companies must maintain an up-to-date register of their beneficial owners, an obligation reinforced by economic substance requirements in Mauritius, and communicate the information to the competent authorities. This register must identify any natural person holding, directly or indirectly, more than 25 % of the shares or voting rights, or exercising effective control over the company.

Audit

A statutory audit is mandatory for GBC companies and for local companies exceeding certain turnover thresholds. The auditor must be an independent firm registered with the Mauritius Institute of Professional Accountants (MIPA) and approved by the FSC for companies under its supervision.

The appointment of the auditor is a shareholders' decision, formalised at a general meeting. The auditor issues an opinion on the fairness of the financial statements and reports any irregularity to the competent authorities. Sunibel Corporate Services coordinates the audit process by preparing accounting files, liaising with auditors and ensuring compliance with filing deadlines.

Compliance calendar

The table below summarises the main deadlines for a company whose accounting period ends on 30 June:

Important: exact dates may vary depending on your company's date of incorporation and the accounting period chosen. Late filing penalties apply systematically in the event of non-compliance with deadlines.