Several measures of the Finance Bill, which was presented this Tuesday to the Parliament, are still causing apprehension in the equestrian world. We have learned that the Tote companies have sent a letter to the Mauritius Turf Club Sports and Leisure Ltd to inform the organization that they will no longer be able to honor their additional 2% payment as agreed at the beginning of the season. The reason being that the Finance Bill foresees an additional 2% tax imposed on the Tote companies who will finally have to pay 1% tax in total.
A decision that would further complicate the situation of the Mauritius Turf Club Sports and Leisure Ltd which is already facing financial difficulties.
For Jean Michel Giraud, president of the MTCSL, a decision on the continuation of the horse racing season will be taken very soon. « For now, we have not decided anything. However, the measures that the government will impose now force us to seriously consider several options for the current horse racing season. These measures do not only affect the Mauritius Turf Club, but also our Tote partners. We are still thinking about it for the moment », he underlined.
Jean Michel Giraud also added that the governing body of horse racing in Mauritius has already alerted other international bodies and the Financial Action Task Force, whose members will be in Mauritius in the coming weeks so that the Mauritian jurisdiction can get out of its Grey List.
