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Mauritius Joins Key Multilateral Regulatory Agreement 5/21/2012 The Financial Services Commission of Mauritius has become a signatory of the International
Organization of Securities Commissions' Multilateral Memorandum of Understanding, which sets out international standards on cooperation and information exchange for the robust regulation of securities and future markets internationally.
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EU's First EPA With African Countries Goes Into Effect 5/16/2012 The interim Economic Partnership Agreement between the European Union and four Eastern and Southern African states, Mauritius, Madagascar, the Seychelles
and Zimbabwe, went into effect on May 14, 2012.
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Offshore Merger And Acquisition Activity Rises 5/9/2012 A new report from Appleby shows that transaction values for mergers and acquisitions (M&A) in major offshore financial centers rose by 25% in the first quarter of 2012.
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Mauritius, Luxembourg Initial Revised DTA 4/13/2012 Luxembourg’s Deputy Prime Minister and Foreign Affairs Minister Jean Asselborn
has recently conducted a working visit to the island of Mauritius, with the main
aim of deepening existing relations, and in particular bilateral economic ties,
with the visit culminating in the initialling of a revised bilateral double taxation
agreement between the two countries.
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Mauritius Builds Synergy Between Domestic Regulators 4/13/2012 Mauritius's Financial Services Commission and the territory's Financial Reporting
Council on April 10, 2012, signed a Memorandum of Understanding to ensure
effective information exchange in relation to financial reporting, auditing and
corporate governance.
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COMESA Members And EU Discuss EPAs 3/29/2012 A delegation of MEPs from the European Parliament has recently held a consultative
meeting in Lusaka, Zambia, with the Chair of the Eastern and Southern Africa group of countries to discuss their Economic Partnership Agreement negotiations
with the European Union.
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COMESA Pushes For DTAs Between Member States 2/14/2012 Earlier this month, the Common Market for Eastern and Southern Africa held a three-day forum in Lusaka which attracted officials from its member states
who are involved in negotiating double taxation agreements.
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St Kitts And Nevis Boosts Tax Cooperation 2/10/2012 Saint Kitts and Nevis's Cabinet has approved the signing of a Tax Information Exchange
Agreement with India and has endorsed the commencement of negotiations towards
similar agreements with a further four nations.
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Trade Barriers Hindering African Growth 2/10/2012 As African leaders pursue negotiations towards a continental free trade area by
2017, a new report released by the World Bank has noted that African nations are
losing out on billions of dollars in potential trade earnings every year because of restrictive barriers to regional trade.
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US, Mauritius Hold TIFA Consultations 1/23/2012 Deputy United States Trade Representative Demetrios Marantis has led a US delegation
to Mauritius for talks with the local government under the US-Mauritius Trade
and Investment Framework Agreement, to discuss a broad range of issues
relating to their bilateral trade and investment relationship.
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The Seychelles Adds Guernsey TIEA 1/3/2012 The Seychelles has noted the signing of a Tax Information Exchange Agreement with
Guernsey as a significant step in boosting bilateral relations between the two
territories.
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Mauritius Unveils 2012 Budget 11/9/2011 Mauritian Finance Minister Xavier-Luc Duval has recently unveiled details of
the government’s 2012 finance bill, designed to promote export and market
development, and to open up the country’s economy, and providing for tax
measures intended to boost growth and investment and to promote social justice.
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Problems Foreseen For African Tripartite FTA 11/8/2011 The South African Minister of Trade and Industry, Rob Davies, has expressed the
opinion that the planned roll out of the proposed African tripartite free trade agreement may 'hit a snag' when negotiating on trade in manufactured goods between
the member countries.
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IMF Opens Fourth African Technical Assistance Centre 10/18/2011 The International Monetary Fund has officially opened its fourth Africa
regional technical assistance centre in Mauritius, offering capacity
building services to 13 countries across Southern Africa and the Indian Ocean.
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Atlas Targets Asian Trust Services Market 10/18/2011 Atlas Corporate Services Group, a leading international corporate and trust service provider, has announced that it has been granted new licences to operate in the Ras-Al-Khaimah Free Trade Zone and in Mauritius, as the firm expands its global reach into Asia.
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Mauritian Exporters Seek Tax Incentives 10/14/2011 Hot on the heels of the Mauritius Employers’ Federation, the Mauritius
Export Association has now also submitted its pre-budget memorandum to
Mauritian Finance Minister Xavier-Luc Duval, in which it underlines the need to
introduce fiscal incentives for investment and training in the sector to improve
productivity.
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Mauritian Business Submits Budget Wish List 10/14/2011 Ahead of the forthcoming 2012 budget presentation, the Mauritius Employers’
Federation has submitted a number of fiscal proposals to Mauritian Finance
Minister Xavier-Luc Duval, aimed at addressing a number of domestic constraints
on businesses in Mauritius.
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ACP States Risk Losing Duty-Free Access To EU 10/7/2011 The European Commission is proposing to amend the Market Access Regulation governing the trade conditions for certain developing countries that have
negotiated, with the European Union, Economic Partnership Agreements which have yet to be signed and ratified.
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Mauritius Eyes 'Rainy Day Fund' In 2012 Budget 10/6/2011 Due to a deterioration in the global economy, Deputy Prime Minister and Finance
Minister of Mauritius Xavier-Luc Duval has confirmed plans to provide for a special
‘Rainy Day Fund’ or ‘Fighting Fund’ in the country’s
2012 budget, designed to support strategic sectors currently in difficulty and
to support employment and growth.
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Guernsey Leading Field In Tax Cooperation With Africa 9/27/2011 The States of Guernsey is set to conclude a further six bilateral Tax Information
Exchange Agreements that have been negotiated with members of the Southern
African Development Community, in line with the Organization for
Economic Co-operation and Development’s priority of working closely
on tax issues with developing countries.
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Mauritius Business Urges Ongoing Fiscal Support 9/16/2011 The Mauritius Chamber of Commerce and Industry recently urged the government
to pursue its policy of economic reforms and to maintain the various fiscal support
measures for industry, drawn up in the wake of the global financial and economic
crisis.
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Switzerland Tops WEF Competitiveness Index 9/9/2011 Switzerland tops the overall rankings in the Global Competitiveness Report for 2011-2012,
released on September 7 by the World Economic Forum.
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Asia-Based Incorporation Specialist Expands Into Europe 9/8/2011 Offshore Incorporations Limited, a leading global company formation specialist based in Asia, has announced the opening of its first European office, in London, to support a growing number of Asia-based companies investing in Europe.
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South Africa Plugs Tripartite FTA 8/26/2011 In the opinion of South Africa’s Deputy Minister of Trade and Industry,
Elizabeth Thabethe, the recent agreement to launch talks to establish a tripartite
free trade agreement between several African nations has made it more urgent to promote intra-African trade.
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Indian Ruling Undermines Mauritian DTA 8/11/2011 A ruling from the Mumbai High Court has cast into doubt the use of structures
in Mauritius to mitigate tax paid in India.
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COMESA Reviews Progress On Customs Union 8/9/2011 A third meeting was held this month in Lusaka by the Common Market for Eastern
and Southern Africa to study the progress made towards having a fully
implemented Customs Union by June 2012.
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India And Mauritius Resume Tax Talks 6/27/2011 India and Mauritius have agreed to further discuss the double tax avoidance treaty that currently exists between the two countries, with the aim of making revisions to the agreement.
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African Leaders Launch Tripartite FTA Talks 6/16/2011 A leaders’ summit of the Common Market for Eastern and Southern Africa,
the East African Community and the Southern African Development Community, held in Johannesburg on June 11 and 12, has agreed to formally launch
negotiations to establish a tripartite free trade agreement.
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South Africa To Discuss Tripartite FTA 6/9/2011 A summit of the Common Market for Eastern and Southern Africa, the East
African Community and the Southern African Development Community will be held in Pretoria on June 11 and 12 to discuss the progress made towards
a tripartite free trade agreement (FTA).
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Tripartite African Trade Talks Show Progress 5/18/2011 Ministers from countries within the Common Market for Eastern and Southern Africa, the East African Community and the Southern African Development
Community met recently in Lusaka to discuss the progress made towards the
proposed tripartite free trade agreement.
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India Seeks More Tax Information From Mauritius 4/23/2011 The Indian Finance Ministry has written to the government of Mauritius requesting that additional clauses be added to their double taxation agreement enabling more information to be exchanged for tax purposes.
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Offshore Banking Body Rebrands 4/11/2011 Having broadened its role as a representative on behalf of numerous offshore financial centres in issues pertaining to financial sector regulation and best standards, the
Offshore Group of Banking Supervisors has decided to rebrand itself the
'Group of International Finance Centre Supervisors’.
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India To Open Eight Overseas Tax Units 3/18/2011 The Indian Minister of State for Finance (Revenue) Shri S S Palanimanickam has announced that the government has made plans to launch eight new Income Tax Overseas Units in France, Germany, Netherlands, Cyprus, USA, UK, UAE and Japan in the next financial year.
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Tripartite African Trade Talks To Start By Mid-2011 3/11/2011 South Africa’s Minister of Trade and Industry, Rob Davies, has said that
negotiations for the development of a free trade agreement between the Southern
African Development Community, the East African Community and the
Common Market for East African States will commence towards the middle
of 2011.
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Mauritius Stock Exchange Recognized By UK Taxman 2/8/2011 The Stock Exchange of Mauritius has been designated as a recognised stock exchange
for the purposes of HM Revenue and Customs's tax treatment.
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IMF Endorses Mauritius's Fiscal Policy 2/4/2011 The Mauritian economy has performed better than expected, due in large part to the authorities’
prompt and comprehensive policy response to the global crisis, according to the International Monetary Fund.
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OECD Publishes Critiques Of Territories' Tax Assistance Frameworks 1/31/2011 The Global Forum on Transparency and Exchange of Information for Tax purposes,
hosted by the OECD, has released ten reports which evaluate jurisdictions’
commitment to tax transparency, and examine whether information is made available
and accessible to foreign tax authorities.
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Mauritius, UK, Sign Revised DTA 1/13/2011 Mauritian Finance Minister Pravind Jugnauth and Britain’s High Commissioner
in Mauritius Nick Leake have recently signed a protocol amending the existing
bilateral double taxation agreement in place between the two countries.
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India Has Created 10 Overseas Income Tax Units 12/21/2010 The Indian Government has created 10 overseas income tax units and two of these, in Mauritius and Singapore, have already become operational.
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Australia Signs Two More TIEAs 12/9/2010 Montserrat and the Republic of Mauritius have signed Tax Information Exchange Agreements with Australia, Bill Shorten, Assistant Treasurer, announced on December 9.
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Mauritius Unveils 2011 Budget 11/22/2010 Mauritian Finance Minister Pravind Jugnauth has unveiled details of the country’s
2011 budget, designed to rebalance growth, to boost productivity, and to consolidate
social justice, and providing for a number of key fiscal measures, designed to
contain the budget deficit at 4.3% of gross domestic product.
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Switzerland Tops Competitiveness League 9/13/2010 Switzerland has claimed top spot in The Global Competitiveness Report 2010-2011,
as released by the World Economic Forum on September 9. In the rankings, the United
States has fallen two places to fourth position, overtaken by Sweden (2nd) and
Singapore (3rd), after already ceding the top place to Switzerland last year.
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Landmark Nasdaq Listing For Mauritius Firm 9/3/2010 Leading Indian online travel company, MakeMyTrip Limited has undertaken a USD70m
Initial Public Offering on the Nasdaq Global Market, making it the first Mauritius-incorporated
company to list on a major New York stock exchange.
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Mauritius To Reduce Internet Costs 9/1/2010 Mr T. Pillay Chedumbrum, Minister of Information and Communication Technology,
has announced that internet tariffs in Mauritius will be reduced by the end of
December 2010.
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SADC Pushes Progress On FTA, Customs Union 8/19/2010 The 30th Summit of the Heads of State and Government of the Southern African Development
Community was held recently in Namibia, which reaffirmed the community's commitment
to the consolidation of the regional free trade agreement, and then to the
establishment of a Customs Union.
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Netherlands To Sign TIEAs 7/7/2010 The Dutch government has united on plans put forward recently by Dutch Finance Minister Jan Kees De Jager to conclude tax
information exchange agreements with Uruguay, Mauritius and Brunei, in a
further endeavour to combat tax evasion.
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Vodafone Appeals Indian Tax Order 6/9/2010 UK telecoms multinational Vodafone has responded to the Indian Income Tax department's reassertion of its jurisdiction to levy withholding tax on the USD11.1bn sale to Vodafone of a 67% stake in Hutchinson Essar in 2007 with an appeal to the Bombay High Court.
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India Presses Mauritius To Renegotiate Treaty 5/25/2010 The Indian government would like to see an end to the provision in the India-Mauritius tax treaty which provides that capital gains from sale of securities in India can only be taxed in Mauritius.
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Labuan And Mauritius Sign Regulatory MoU 4/30/2010 It has been announced that the Labuan Financial Services Authority and the Financial Services Commission, Mauritius have signed a
memorandum of understanding that will provide the basis for the two authorities
to work together, particularly in the fields of regulation, investigation and
enforcement.
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Indian Revenue Agency Opens Overseas Offices 4/30/2010 The Indian Central Board of Direct Taxes has opened tax offices in Singapore and Mauritius and plans to open in at least eight more countries in order to step up its measures against tax evasion.
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India To Sign Offshore TIEAs 4/16/2010 The Indian government will proceed with negotiations towards tax information exchange agreements with nine low-tax jurisdictions.
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India Investment Restrictions Take Effect 4/13/2010 Indian government changes to foreign direct investment rules have taken effect from April 1, 2010. The new rules require foreign venture capital funds to obtain prior approval for investment in Indian venture funds, and investment in unregistered trusts is no longer permitted.
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Indian Ruling Backs Mauritius Tax Treaty 3/25/2010 After a long running dispute on the incidence of capital gains tax, the Indian Authority for Advance Rulings has issued a ruling which maintains the validity of Article 13 (4) of the India Mauritius double taxation treaty on exemption from capital gains tax normally payable in India.
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OECD Reviews Tax Transparency 3/23/2010 18 countries participating in the Global Forum on Transparency and Exchange of Information have been included in the first phase of a peer review process.
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