An amending Protocol to the UK-Mauritius tax treaty was signed on February 28, 2018.
Under the Protocol, dividends shall be exempt from tax in the country in which the company paying the dividends is a resident, except where:
- Dividends are paid out of income (including gains) derived directly or indirectly from immovable property by an investment vehicle, which distributes most of this income annually, and
- Whose income from such immovable property is exempt from tax.
In the above situations, dividends shall be taxed at the rate of 15 percent.
The Protocol will enter into force once both countries have completed their parliamentary procedures and exchanged diplomatic notes.