Incentives of the pharmaceutical industry in Mauritius
The Government of Mauritius is offering several advantages to promoters interested to set up a pharmaceutical manufacturing unit in Mauritius.
The table below lists the incentives applicable to companies engaged in pharmaceutical, medical devices, cosmeceutical & dermatological products and R & D/ Research Laboratories:
|
Activity |
Incentives |
|
a) Pharmaceutical products
b) Medical Devices, Instruments and
c) Cosmeceutical /Dermatological products
|
8-year corporate tax holiday
No registration duty or Land Transfer tax on purchase or lease of land or building
3 % corporate tax on profits derived from exports of goods (after 8-year corporate tax holiday)
No import duties on equipment & raw material
No export duties in Mauritius
VAT on raw materials is payable at customs clearance but reimbursable on exports
Accelerated depreciation of 50% on machinery, equipment and
Waiver on Building and Land Use Permit fees for construction of pharmaceutical manufacturing factory
20% margin of preference
Refund of 60% on Air Freight Cost for export to Africa (including Madagascar), Australia, Canada, Europe, Japan,
Refund of 25% on Basic Freight Cost (the maximum of USD 300 per 20T-feet container and USD 600 per 40T –feet container) 49 ports in 20 countries in Africa
|
|
R&D and Research Laboratories |
VAT exemption on construction of medical R&D Centers
VAT exemption on plants and equipment
Accelerated depreciation of 50% in respect of capital expenditure incurred on R&D, that is the investment cost is fully amortised in 2 years
Exemption of registration duty on acquisition of immovable property
Double deduction in respect of qualifying expenditure on R&D directly related to the entity’s trade or business and provided the R&D is carried out in Mauritius.
|
|
Support Services |
Any other activities in relation to provision of support services to the development of the pharmaceutical industry
Applicable taxes as defined in the existing legislations |
For more information on the pharmaceutical industry in Mauritius, feel free to contact the business development team by email on bd@mitcoworld.com or phone them on + 230 404 8000.