India had received in $8.17 bn during April- January 2012-13 Foreign Direct Investment inflows from Mauritius have almost halved during April-January period of last fiscal to $4.11 billion on fears of impact of GAAR and possible re-negotiation of the tax avoidance treaty. India had received in $8.17 billion during April-… – Continue reading
They have big money and experienced staff, and operate with effortless sophistication. These are some of the features of multinational companies that use complex instruments to avoid paying taxes especially in developing countries. Mindful of this, Uganda Revenue Authority is keeping on guard. The tax body has joined a global… – Continue reading
ActionAid Ghana (AAG) said Illicit Financial Flows (IFFs) was depriving Africa of billions of dollars each year, more than is received in overseas development aid or foreign direct investment combined. It said IFFs were commonly associated with criminal activity like drug dealing, smuggling or human trafficking, adding that the United… – Continue reading
NAIROBI (Xinhua) — The Kenyan government on Monday signed an agreement with the Seychelles to phase out double taxation on companies from the two countries. Kenya’s Cabinet Secretary for Treasury Henry Rotich said the elimination of double taxation will promote flow of investments, trade and labor between the two countries. “ Kenya has… – Continue reading
From “Tiger of the Indian Ocean” to “Cyber island”, Mauritius has turned now into a “Safe and Reliable Investment Hub” in terms of good governance as well as ethical, economic, political and social stability. Ranked 1st in Sub-Saharan Africa in the World Bank‘s Doing Business Report 2013, Mauritius offers a particularly favorable setting for doing business…. – Continue reading
12 March 2014: In its 2013 Annual Report, the Luxembourg Direct Tax Authorities reported that they have negotiated new tax treaties with Hungary, New Zealand, the UK and Uruguay. It is also reported that 659 exchanges of information upon request, spontaneous information exchanges and automatic exchanges of information have been… – Continue reading
NEW DELHI: The finance ministry will soon write to British telecom major Vodafone to press the company to seek an early decision from the Income-tax Appellate Tribunal (ITAT) in the Rs 8,500-crore transfer pricing case. The Union Cabinet had, on February 28, directed the finance ministry to wait for the… – Continue reading
New Delhi: The Income Tax department has rebutted Vodafone’s notice under BIPA saying that the pact between India and Netherlands does not cover taxation issues. “Tax department has sent its response to Vodafone saying BIPA does not cover tax issues,” an official source said. The response to the Bilateral Investment… – Continue reading
(Reuters) – The central bank governor of Mauritius has publicly criticised delays in the island’s efforts to develop Islamic finance, saying such “foot-dragging” could deprive the financial sector of chances to grow and increase risks. Governor Rundheersingh Bheenick said in an annual letter to stakeholders that legislation was needed to… – Continue reading
The Vodafone tax issue has affected investor sentiments towards India: ABAX Corporate CEO NEW DELHI, FEBRUARY 26: The Vodafone tax dispute and General Anti-Avoidance Rules have impacted investor sentiment badly. Coupled with the delay in revising the Double Taxation Avoidance Agreement (DTAA) with Mauritius, fund flow from the island-nation has… – Continue reading
A documentary on the working of tax havens in the context of the double taxation avoidance treaty between India and Mauritius reveals that while India may have received foreign investments due to the treaty, tax losses on its account run to the tune of tens of thousands of crores. Is it worth… – Continue reading
The chickens are quietly coming home to roost. In Europe, that is. For a long time, multinational companies have created shell companies – those offices where, beyond furniture and a teapot, there is hardly any business going on – to mainly pay lower tax and move illicit funds. These opaque… – Continue reading
PORT LOUIS, Feb 18 (Reuters) – Mauritius’ top finance officials on Tuesday sought to end a monetary policy rift that could damage the Indian Ocean island’s economy as it tries to broaden its base to offshore banking from tourism alone. Finance Minister Xavier Duval and Central Bank Governor Rundheersing Bheenick disagree over whether to… – Continue reading
SOUTH Africans who have in recent years bought holiday pads in Mauritius, typically with price tags exceeding R10m, have been handsomely rewarded on the capital growth front. While most of the world’s housing markets are still recovering from the credit crisis-induced property slump, average prices in integrated resort scheme developments… – Continue reading
The Government on Tuesday said efforts were being made to find mutually acceptable solution to address India’s concerns while revising the tax treaty with Mauritius. The Government has proposed to review the India-Mauritius Double Taxation Avoidance Convention (DTAC) to incorporate amendments to the pact for prevention of treaty abuse and… – Continue reading
Government today said efforts are being made to find mutually acceptable solution to address India’s concerns while revising the tax treaty with Mauritius. Government has proposed to review the India-Mauritius Double Taxation Avoidance Convention (DTAC) to incorporate amendments to the pact for prevention of treaty abuse and to strengthen the… – Continue reading
Investors are adopting a “wait and watch approach” in routing their money through Mauritius into India amid bilateral tax treaty uncertainties, which is also impacting the island nation’s financial services sector. According to a leading industry body – Global Finance Mauritius – continuing uncertainties over the tax treaty with India… – Continue reading
SA faces serious competition. It’s worth taking note of Mauritius’s move to position itself as an attractive destination for financial services. With a population of just 1.3 million, the island boasts 21 banks, including such global names as HSBC, Standard Chartered, Barclays, Deutsche Bank and South Africa’s own Investec and… – Continue reading
