Section 67J: Expenditure incurred for arbitration, conciliation

67J. Expenditure incurred for arbitration, conciliation or mediation under an Alternative Dispute Resolution Mechanism (1) Notwithstanding section 57 but subject to this section, where, in an income year, a company makes an application for arbitration, conciliation or mediation for the settlement of a dispute before a recognised arbitration institution in Mauritius and has incurred expenditure in respect of filing fees, it shall in that income year be allowed a deduction of an amount equivalent to 150 per cent of the expenditure so incurred from its gross income. (2) For the purpose of subsection (1) – “filing fee” means the payment required to be made on filing a request for arbitration, conciliation or mediation; “recognised arbitration institution” includes the Mauritius International Arbitration Centre (MIAC), MCCI Arbitration & Mediation Centre (MARC) or the Mediation Division of the Supreme Court of Mauritius. 330 Acts 2019 (p) in section 73A, by repealing subsection (1) and replacing it by the following subsection – (1) Notwithstanding section 73, a company incorporated in Mauritius shall be treated as non-resident if it is centrally managed and controlled outside Mauritius. (q) in section 77(4)(b), by deleting the words “at the rate of 5 per cent”; (r) by inserting, after section 90, the following new section –