Society (Partnership)

Societe (Partnership)

Partnerships (sociétés) in Mauritius are governed by the Mauritius Civil Code (Code Civil Mauricien) and the Mauritius Commercial Code (which is called the Code de Commerce).

A société is comprised of at least two partners and its terms are governed by a partnership deed. The liability of each partner is limited to its ownership share, unless otherwise provided for in the partnership deed.

With the exception of unregistered partnerships (sociétés en participation), a société is vested with legal personality as from the date of its registration with the Registrar of Companies. Sociétés have a legal personality that is they have a name and a nationality with a life period of 99 years.

Tax exemptions and concessions

A resident société is not liable to tax. Instead, every associate of the société is liable to tax on his share of income, whether distributed or not.

However where a société owns immovable property and the property is thereafter sold or transferred, the tax on the gains derived thereon is payable by the société. The Tax rate on Gains from immovable property is 10%.

Annual returns

A resident société is required to fill in and submit its annual return of income (IT Form 6) to the MRA not later than 31 March.