Question1. Briefly describe the procedures needed for the setting up of the Global Business Company Category 1 (GBC 1).
Question2. In relation to a Global Business Company Category 1 (GBC 1), how would you describe the term “conducting business outside Mauritius?
Question3. What type of business might be conducted by the Global Business Company 1 (GBC 1)?
Question4. List out the tax incentives for Global Business Companies 1 (GBC1)?
Question5. Describe clearly how the VAT system works.
Question6. Make a distinction between exemption and zero-rating for VAT purposes.
Question7. Write down four examples of the transactions normally:
(i) Zero-rated
(ii) Exempt from VAT
Question8. Write down the four examples of transactions outside scope of VAT.