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The Prime Minister of Mauritius, Anerood Jugnauth, has made an appeal to young entrepreneurs to take full advantage of the country's incentives for small and medium enterprises (SMEs).
Introduced in the 2015 Budget, the incentives include a corporate tax exemption for newly formed companies that are registered with SMEDA and which have a turnover of less than MUR10m (USD284,000). This is available for up to eight years. The alternative minimum tax was also repealed.
Other measures included the establishment of the new Small and Medium Enterprise Development Authority (SMEDA), which provides support, financing, and information to start-up companies, and a SME bank, which will provide SMEs with easy access to seed capital.
Jugnauth said that he places SMEs at the center of his plans for economic growth in Mauritius and he wants the territory to become a "nation of entrepreneurs."
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