Mastering Taxation 2022
Trusted by professionals year after year
Our most in-demand training, the Mastering Taxation programme, is starting its 2022 edition in April with an added module for accounting professionals.
2021 edition satisfaction rate: 4.49/5
Over its 8 years of existence, the course has built a solid reputation amongst tax and accounting professionals in Mauritius. Participants tell us that Mastering Taxation is a great way for them to stay in touch with the latest tax updates.
The programme, which is delivered at the state-of-the-art PwC Centre, uses a good mix of human interaction and technology to create a platform that fosters collaboration, learning and exchange of perspectives around tax matters.
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Read more about our different courses
Module 1: Corporate Tax
Corporate Tax - Part 1
Dates: Choose either 20 or 21 April 2022 [Already delivered]
The Income Tax Act provisions affecting corporations are increasingly complex and are subject to changes each year. Businesses need to understand the basic principles of corporate taxation and keep pace with developments in tax matters in order to fulfill their return filing obligations and avoid unnecessary disputes with the MRA.
This course will cover the general principles of Income tax law including rules relating to taxability of income, deductibility of expenses, unauthorised deductions and best of judgment assessments.
Corporate Tax - Part II
Dates: Choose either 11, 12 or 25* May 2022
*Vacant seats available on 25 May 2022 only. We've made this new date available due to high demand and intially planned dates of 11 and 12 May 2022 have been sold out quickly.
The recent legislative changes have brought a number of measures which impacted businesses such as accelerated annual allowances, additional investment allowance to companies affected by Covid-19, double deductions on research and development, tax holidays, amongst others. New regimes have been introduced following reviews by the OECD and the EU. It is therefore imperative that the companies understand how to compute their corporate tax liabilities under the new regimes.
This course will cover, amongst others, the new regime for the Global business, banking and freeport sectors, the taxability of foreign income, the partial exemption, substance requirements, apportionment of expenses and the application of foreign tax credit, as well as the pooling method and the source-by-source method.
Module 2: VAT
Output VAT on Transactions
Dates: Choose either 13 or 14 July 2022
Whilst Value Added Tax (“VAT”) is a tax on consumption borne by the final consumer, the supplier has the obligation to comply with the relevant laws and regulations. Not charging VAT on the right amount or at the right time may lead to considerable tax exposure. A sound knowledge of how and when to apply VAT is becoming increasingly important given the diversity of supplies, both in terms of goods and services.
This course will cover the fundamentals of output VAT, which among others include charge to VAT, time of supply, VAT treatment of recharges between related companies and VAT refund scheme and the newly introduced VAT on digital companies. Relevant tax rulings and statements of practices issued by the MRA will be analysed.
Input VAT & VAT Administration
Dates: Choose either 27 or 28 July 2022
Not all input VAT incurred by a company can be claimed. Input VAT in respect of certain expenses (such as accommodation, motor cars, etc.) are simply not recoverable, while VAT incurred on common expenses should be apportioned where a company makes both taxable and exempt supplies.
Often, companies do not make the right claim for input VAT. Such practices may expose businesses to significant risk of penalties and interests as the company is over-claiming input VAT. Also, a VAT registered person can now claim repayment of VAT paid on goodwill on the acquisition of a business, computer software, patents and franchise agreements.
Module 3: Pay As You Earn and Tax Deducted at Source
Date: 10 August 2022
Many employers find their Pay As You Earn (PAYE) responsibilities technically challenging and complex, especially with the introduction of PAYE on solidarity levy. They often face difficulties when onboarding new employees, determining the correct treatment of benefits in kind or any amount paid to an employee.
Tax deduction at Source (TDS) is an important feature of Income Tax. A company making specified payments such as professional fees, commission, interest, royalties, rent, etc. is liable to deduct a certain percentage of tax before making payment.
This course will cover the basic fundamentals of PAYE in terms of the definition of emoluments, deduction in connection with employment, exemptions/reliefs, international tax aspects for expatriates as well as other compliance requirements.
It will also cover the application of Contribution Sociale Généralisée (CSG),specific sources of income subject to TDS, the obligation of the payer as well as the penalties and interests imposed by the MRA upon non-compliance with the legislation.
Module 4: International Tax
Part I: BEPS 1.0 and BEPS 2.0
Date: 7 September 2022
International Tax is constantly evolving especially following the Base Erosion and Profit Shifting (BEPS) Action Plan which has revamped the taxation of cross-border transactions. Mauritius has implemented Action 15 of the BEPS Action Plan where the MLI position came into force on 1 February 2020 and the amendments to the treaties took effect from 1 August 2020. Mauritius is now on the European Union’s whitelist and has taken the necessary steps to strengthen its AML/CFT system
It is critical that businesses and MNEs keep abreast with the changing taxation environment to understand its impact in their home jurisdictions as well as in other countries where they do business. The course will provide insights into the BEPS 1.0 covering the minimum standards under the MLI and BEPS 2.0 including taxation of the digital economy and the Global Anti-Base Erosion (GloBE) proposal. The course will also provide up to date information on the initiatives taken by Mauritius to be removed from the EU blacklist and FATF monitoring list.
Part II: Interpretation of tax treaties
Date: 21 September 2022
Mauritius has a vast network of Double Taxation Agreements (DTAs) with countries around the world. The interpretation and application of the DTAs are key to strategic tax planning.
This course will explain the application of DTAs, including residency rules, taxation of employment income and permanent establishment, concept of beneficial ownership, taxation of the different income flows (dividends, interests and royalties) and foreign source income and elimination of double taxation.
Part III: Multilateral Convention (MLI) to implement the Tax Treaty related measures to prevent BEPS
Date: 5 October 2022
On 05 July 2017, Mauritius signed the Multilateral Convention (MLI) to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting which is a novel mechanism to rapidly modify a large number of bilateral tax treaties. The MLI position of Mauritius came into force on 01 February 2020 where the amendments to the treaties have taken effect from 01 August 2020 onwards.
During this course, the provisions of the MLI will be discussed thoroughly so as to enable you to understand how the MLI operates, the choices made by Mauritius and how these have been documented through the use of the MLI template. The course will also provide an insight into synthesised texts that are being prepared by tax authorities and the updated changes made to the OECD Model Tax Convention.
Module 5: Accounting and Tax
Deferred Tax (IAS 12)
Date: 19 October 2022
The ever changing accounting standards require that accounting staff continue building capacity so as to prepare accounts that are in accordance with international norms. This module has been designed to enable accountants to gain a good insight of the accounting and tax treatment of deferred tax and to equip them with a comprehensive step-by-step approach to computing deferred taxes.
During the course, practical examples will be used to take participants through the structured process of determining tax bases, identifying temporary differences, computing deferred taxes, and all the way through to recording the journal entries. They will understand better the need for deferred tax accounting,how deferred tax computation is linked to tax returns, the tax rate to be applied on temporary differences and how to work out the tax reconciliation disclosures.
IFRS 15: Revenue from contracts with customers
Date: 9 November 2022
IFRS 15, which became effective on 01 January 2018, contains significant changes in terms of revenue recognition and measurement. This new standard revolutionises the way that companies look at their revenue and can impact on the timing and amount of revenue that is recognised. The impact of IFRS 15 on your organisation may be significant, especially in industries with the potential for revenue to be deferred and any organisation that sells ‘bundled’ products will have to reconsider the timing and amount of revenue they recognise.
During the course, participants will be able to understand how to apply the five step model in IFRS 15 to recognise and measure revenue, with particular attention on the determination of transaction price and timing of revenue recognition. Through practical examples, the course will provide a good insight into the tax treatment to be adopted by entities having adopted IFRS 15.
IFRS 16 - Leases
Date: 23 November 2022
IFRS 16 standard deals with leases. It defines accounting requirements for lessees and lessors as well. The accounting model for lessees and lessor is not symmetrical. Lessees have to recognise lease liability reflecting future lease payments and a right-of-use asset for almost all lease contracts. On the other side for lessors the accounting model depends on the classification of a lease as operating or finance lease.
This course is designed to help you understand the definition of a lease, explains what period shall be considered as lease term, explains recognition and measurement exemptions, after which details the lessees accounting as well as the lessor accounting using practical examples. The course also discusses the impact on deferred tax relating to leases and the tax treatment of assets acquired under lease.
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Dates
See in session information above
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Time
9am - 12.30pm
Cost
Single course fee
Rs 6,500 per participant per session
Group course fee (i.e for 3 participants or more from the same company)
Rs 6,000 per participant per session
MQA Approved - 3.5 CPD Hours per session
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Venue
Training Theatre, PwC Centre, Avenue Telfair, Moka
(See map)
In line with the sanitary protocols for MQA approved training institutions, access to the PwC Centre is only allowed to individuals considered as fully vaccinated.
Contact
For more details, please reach out to:
Mr. Ajaysing Samul on ajaysing.samul@pwc.com or 404 5152
Ms. Dayvashee Ramgoolam on dayvashee.ramgoolam@pwc.com or 4045263
The Mastering Taxation experience
Greatly impressed by the level of mastery in the taxation field by the facilitators. Provides insights on the application of taxation including recent changes in taxation.
The venue, seating arrangement and general hospitality at the PwC Centre greatly contributed to my learning experience and I will surely come again.
It was great to have a trainer that previously worked at the Tax Authority, as her practical experience brings a policy-making perspective to the courses.
