Commission on Audit
The Commission on Audit (COA) said the Supreme Court (SC) has agreed to close seven bank accounts with P268.3 million in deposits but have been inactive since 2015.
It said the inactive or dormant bank accounts have been flagged down by the COA in its 2021 audit report.
The Finance (Miscellaneous Provisions) Act 2022 came into force on 2 August 2022 and amended several Mauritian legislations to provide for the implementation of the measures announced.
Employees pensions: how the budget changes the PRGF… lexpress.mu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexpress.mu Daily Mail and Mail on Sunday newspapers.
This year, employers are being prompted to contribute to the Portable Retirement Gratuity Fund (PRGF). However, the 2022-23 budget has introduced some major changes to the way the system works.
1. Where the idea comes from
The Portable Retirement Gratuity Fund (PRGF) was introduced in the 2019 Worker’s Rights Act (WRA), as part of a major overhaul of labour laws in Mauritius. The fund is supposed to finance a gratuity lump sum of private sector employees, who are not covered by private insurance schemes run by their employers, when they retire or die. The idea of the PRGF itself.
If we reflect on the evolution of the Mauritian employment tax landscape over the last couple of years, there are 2 things which stand out – First, increased compliance requirements for employers and second a significant change in the trend of employment costs.