Section 116D: Return of dividends by companies

116D. Return of dividends by companies (1) Every company which pays a dividend exceeding 100,000 rupees to an individual, société or succession in a year shall, not later than 15 August in every year, submit electronically to the Director-General, in respect of the preceding income year, a return, in such form and manner as the Director-General may approve, giving the following information – (a) the name and surname of every shareholder; (b) the NIC number of every shareholder or, in the case of a non-citizen, the identification number issued to him by the immigration officer; and (c) the amount of dividend paid. (ze) in section 123 – (i) in subsection (2), by deleting the words “Subject to subsection (3), any” and replacing them by the word “Any”; (ii) by repealing subsection (3); (iii) in subsection (4) – (A) by deleting the words “subsection (3)(b),”; (B) in paragraph (a), by inserting, after the word “interest”, the word “paid”; (zf) in section 123C – (i) by repealing subsection (1) and replacing it by the following subsection – (1) Subject to this section, every person who – (a) in an income year, derives net income and exempt income exceeding 15 million rupees; or Acts 2017 215 (b) owns assets, the cost of which, when aggregated with the cost of assets owned by his spouse and dependent children, exceeds 50 million rupees, shall submit to the Director-General, a statement of assets and liabilities at the time of submission of his return under section 112. (ii) by inserting, after subsection (1), the following new subsections – (1A) Where the cost of an asset does not exceed 200,000 rupees, the person may exclude that asset in the statement of assets and liabilities. (1B) Where a person is liable to submit a statement of assets and liabilities at the end of an income year, he shall not be liable to submit another statement of assets and liabilities in respect of the succeeding income year unless the cost of the assets owned by the person, his spouse and dependent children have, in the aggregate, increased by more than 15 per cent. (1C) A citizen who is not resident in Mauritius, for tax purposes, or a non-citizen shall not be liable to submit a statement of assets and liabilities under subsection (1). (iii) in subsection (2), by deleting the words “submitted in such form and manner as may be prescribed” and replacing them by the words “in the form set out in the Twelfth Schedule”; (zg) by inserting, after section 123C, the following new section –