Schemes
SME Schemes
Business Transformation Scheme (BTS)
BTS supports SMEs and aims to:
- Strengthen their internal capabilities
- Review their structures and redesign their business models
- Develop organisational and marketing strategies
- Improve risk management, compliance and governance
Grant Value: The maximum grant allowable is Rs 350,000 namely, a maximum of up to Rs 250,000 for project components and Rs 100,000 to cover for consultancy fees
Technology and Innovation Scheme (TINS)
TINS seeks to encourage SMEs to:
- Continously invest in technology and automated production capabilties.
- Create technology-based integrated and sustainable SMEs
Grant Value: Grant depend on
- Turnover and
- Number of full-time employees for whom CSG is being paid
- There are 4 categories of grants available as follows:
Category A Category B Category C Category D 50,000 130,000 200,000 250,000 - The grant covers up to a maximum of 80% of the itemised cost allowable for that category.
Market Readiness Scheme (MRS)
MRS aims at supporting SMEs to:
- Improve their market accessibility and competitiveness in both local and export markets.
- Respond to more stringent requirements of diverse customer bases
Grant Value: Grant depend on
- Turnover and
- Number of full-time employees for whom CSG is being paid
- There are 4 categories of grants available as follows:
Category A Category B Category C Category D 50,000 130,000 200,000 250,000 - The grant covers up to a maximum of 80% of the itemised cost allowable for that category.
Greening Support Scheme (GSS)
The scheme aims to promote:
- Green initiative in SMEs through investment in dedicated mechanisms and systems and implementation of international standards and norms.
Grant Value: Grant depend on
- Turnover and
- Number of full-time employees for whom CSG is being paid
- There are 4 categories of grants available as follows:
Category A Category B Category C Category D 50,000 130,000 200,000 250,000 - The grant covers up to a maximum of 80% of the itemised cost allowable for that category.
Agri-Business Scheme (ABS)
The scheme aims to:
- Facilitate the introduction of techniques and innovative technologies with a view of promoting the development and boosting productivity within the agri-business sector.
Grant Value: Grant depend on
- Turnover and
- Number of full-time employees for whom CSG is being paid
- There are 4 categories of grants available as follows:
Category A Category B Category C Category D 50,000 130,000 200,000 250,000 - The grant covers up to a maximum of 80% of the itemised cost allowable for that category.
DBM Schemes
Business Loan
Loan is provided for the construction of commercial building; renovation/refurbishment of shop, purchase of equipment & working capital and purchase of commercial and agricultural Land.
Financing: Up to 75% of cost of project
Maximum Loan Amount: Rs 10 million
Eligibility: Licensed Companies / other legal entities & Individuals
Women Entrepreneur Loan Scheme
Loan is provided to assist women financially in setting up an economic activity to sustain themselves and their families.
Financing: 90% of cost of project up to a maximum of Rs 500,000 OR Rs 1 million
10% of project cost from own funds
Maximum Loan Amount: Rs 1 million
Eligibility: Women Entrepreneurs or companies with women among majority shareholding.
MSME Financing
Loan is provided to businesses in the manufacturing, services and ICT sectors.
Financing: 90% of cost of project
10% of project cost from own funds
Maximum Loan Amount: Rs 10 million
Eligibility: Individual, Companies or Cooperatives
EDB Schemes
International Fairs SME Refund Scheme
A grant is provided to finance the participation of SMEs in international fairs with an aim to expand their businesses.
Eligibility: SMEs registered with the CBRD and with an annual turnover of less than Rs 100 million; Sectors of operation include, but is not limited to, agriculture, creative industries, freeport operators, freeport developers (effective from 1st July 2022), healthcare services, ICT, knowledge services, life sciences and manufacturing.
Africa Warehousing Scheme
This scheme provides a subsidy on the rental and administrative costs of warehouses in selected African countries to support access and increase the competitiveness of locally manufactured products in these markets.
Refund Amount: 60% refund on the following costs for eligible beneficiaries:
- Rental cost and related administrative costs for the lease of the first 200 m2 of warehouse over 3 years, subject to a maximum capping of Rs 300,000 per annual lease agreement, per beneficiary.
- Rental cost on the annual lease of additional 200 m2, subject to a maximum refund of Rs 300,000 over 3 years.
- A one-off refund on merchandising cost subject to a maximum refund of Rs 580,000.
- A one-off refund on costs for setting up company operations in the country of destination subject to a maximum refund of Rs 320,000 per beneficiary.
The Trade Promotion and Marketing Scheme
TPMS aims to boost and support manufacturing companies and exporting agents in their quest to penetrate the eligible markets faster by making use of air shipment and, hence, enhance product delivery and increase the competitiveness of local manufacturing products.
Rebate:
Eligible businesses in non-agricultural products will benefit from 60% refund on:
- Air Freight Cost
- Sea-Air Freight Cost for the Mauritius-Reunion Island-CDG Paris route
Eligible businesses in agricultural products will benefit from 60% refund on:
- Air Freight Cost
- Sea-Air Freight Cost for the Mauritius-Reunion Island-CDG Paris route
The rebate will be equally shared between the Planter and the Exporter who will each be eligible to 30%.
The rebate is capped at Rs 30 million per applicant irrespective of the destination.
MRA Schemes
Tax Incentives and Exemptions to SMEs
- Four years tax holiday for companies starting business based certain conditions
- Presumptive Tax: If the gross income does not exceed 10 million rupees, the entrepreneur may be eligible to elect for the presumptive tax system and pay tax at the rate of 1% of her gross income.
- Tax Arrears Settlement Scheme (2022): Taxpayers may benefit from 100% waiver of its penalties and interest on tax arrears under the Income Tax Act, Value Added Tax Act or the Gambling Regulatory Authority Act outstanding as at 7 June 2022 provided that the tax arrears are settled on or before 31 March 2023
- Waiver of Penalties and Interest for SMEs
- Penalty for late submission of return
An individual, a company, a trust or a resident société who is a small and medium enterprise having an annual turnover not exceeding 100 million rupees may benefit from waiver of penalties for late submission of return or statement of income due as at 25 March 2022 based on certain conditions. - Penalty for late payment of tax and Interest payable on returns and statements
An individual, a company, a trust or a resident société who is a small and medium enterprise having an annual turnover not exceeding 100 million rupees may benefit from waiver of penalties for late payment of tax and interest on unpaid tax due as at 25 March 2022 based on certain conditions.
- Penalty for late submission of return