Pre-clearance fiscal electronic invoices – registration underway
The Indian island nation of Mauritius has confirmed plans to implement electronic invoices. This was disclosed in the 2022 Budget as updates to the Value Added Tax Act.
Businesses must now be registered with Mauritius Revenue Authority by 30 December 2022 to comply with the new e-Invoicing System. The scope of the regime includes all major billing systems:
- Cash registers
- Point of sales systems
- ERP’s and accounting systems
- Invoice billing applications
Taxpayers are required to ensure their systems are compatible with the MRA’s System, or appoint an agent to assist with submissions.
The new live reporting regime will require tax payers to pre-clear invoices in a Continuous Transaction Controls CTCmodel. Invoices must be first reported and confirmed a fiscal invoice. This requires the taxpayer to be first certified with the Director-General of the Mauritius Revenue Authority.
The new regime covers:
- Sales invoices
- Credit notes
- Debit notes
The fine to fail to issue registered invoices is MUR 5,000 to 10,00 per month. But this can rise to MUR 200,000.
There will be a pilot starting in the new year, first including large taxpayers.