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Mauritius signs the multilateral BEPS Convention

In line with its unfaltering commitment to combat tax avoidance/evasion and base erosion, Mauritius signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (hereunder referred to as the “Multilateral Convention” or the “Multilateral Instrument” or the “MLI”) on 5th July 2017. The Multilateral Convention requires its allegiant country members to identify Covered Tax Agreements among its existing network of Double Taxation Avoidance Agreements (DTAA) that will be directly impacted by the said convention.

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Mauritius Budget Brief 2017-2018

GEARING UP TO THE RISING CHALLENGES OF TOMORROW IN A CONSTANTLY DYNAMIC AND EVOLVING WORLD The Honourable Pravind Kumar Jugnauth, Prime Minister, Minister of Home Affairs, External Communications and National Development Unit , Minister of Finance and Economic Development, delivered his Budget Speech for the fiscal year 2017/2018 on 8th June 2017.

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The Business Facilitation (Miscellaneous Provisions) Act 2017

The Government of Mauritius is always striving to enhance the local business climate through a perpetual review and bettering of its regulatory and administrative framework. It is along this same line of vision that the Act came into force on 20 May 2017 with the objective of slashing red tape and other administrative hurdles that stymie the delivery of business permits, licenses, authorizations and clearances.

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Post-negotiations of Indian tax treaties: Mauritius sizzles as the preferred jurisdiction for investment in India

10th May 2016 was marked by the culmination of negotiations surrounding the India-Mauritius1 Double Taxation Avoidance Agreement (“DTAA”) when a protocol amending the DTAA was signed by both states. Shortly afterwards, the Indian authorities who have embarked on a crusade to overhaul their international tax treaty regime, wrapped up negotiations with Cyprus on 18th November 2016 when a revised India-Cyprus DTAA was signed, followed by the conclusion of a protocol amending the DTAA between India-Singapore on 30th December 2016.

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OECD’S Common Reporting Standard Effective as from 01 January 2017 in Mauritius

As you are aware, the OECD’s Standard for Automatic Exchange of Financial Account Information (“Standard”), also referred to as the Common Reporting Standard (“CRS”) will become effective in Mauritius as from 01 January 2017.

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Tax Holidays Granted to FSC Licensees

The avant-gardist mindset instilled by its leaders and the inexorable drive to promote Africa to international investors have positioned Mauritius as the business center of excellence for the region…

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Moving to Mauritius

Mark Twain, once said that “Mauritius was made first, then heaven was copied from it”, and anyone who has visited the island would no doubt agree with him. Mauritius is renowned as a place to enjoy one’s holidays for its white sandy beaches and blue lagoons. While this is still the case, with the growing number of foreigners settling in Mauritius, it is a fact that the island is also seen as the ideal place to set up one’s home.

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Budget Brief 2016-17

Honourable Pravind Kumar Jugnauth, the newly appointed Minister of Finance and Economic Development presented his budget on the 29th July 2016. Against the backdrop of a sluggish global economy imbued with uncertainties, the Government has put forward bold measures that are expected to give new impetus to the local economy. This year’s budget rests on ten key strategies;

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Protocol amending the India-Mauritius Double Taxation Avoidance Agreement (DTAA)

The India-Mauritius DTAA was executed by the two Contracting States on 24th August 1982 and entered into force in Mauritius on 1st July 1983. A protocol (the “Protocol”) amending the DTAA was signed by both states on 10th May 2016 ahead of the implementation of the Indian General Anti-Avoidance Rules on 1st April 2017. The Protocol is yet to be ratified by both Contracting States and has not yet come into effect.

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Smart City Scheme

In March 2015, the Minister of Finance and Economic Development, Honourable Mr. Vishnu Lutchmeenaraidoo, announced in his budget speech, the advent of 13 employment-rich mega infrastructure projects that will be developed across Mauritius under the Smart City Scheme (SCS).

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