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Mauritius remains a great place to grow businesses, states Minister Sesungkur

Date: May 10, 2019
Domain:Business & Industry
Persona:  
 

GIS – 10 May 2019: Government is committed, through global initiatives and collaborative partnerships such as the International Fiscal Association (IFA), to address the challenges of a digital economy so that Mauritius remains a great place to work, play and grow businesses.

 

The Minister of Financial Services and Good Governance, Mr Dharmendar Sesungkur, made this statement, yesterday, at Sofitel Mauritius L’Impérial Resort and Spa, in Flic en Flac. He was speaking at the opening ceremony of the 13th Asia/Africa IFA Conference 2019, which is being held from 09 to 10 May 2019.

 

In his address, the Minister said that the local Financial Services sector is currently being revamped, and major amendments have been brought to the legal as well as regulatory framework. This policy, he added, paves the way to building its reputation as a jurisdiction of substance and as a springboard for the investors throughout the world. To this end, a Blueprint has been mapped to define the strategy of Mauritius as an International Financial Centre which will ensure compliance with the best international norms and standards established by the Organisation for Economic Co-operation and Development, he stated.

 

Speaking about the Base Erosion and Profit Shifting (BEPS) Action Plan, Minister Sesungkur indicated that it supports and strengthens the determination of the local tax authorities to bring evaders into the net and claim profit that is rightfully ours. The Action Plan, he recalled, is giving a boost to the tax man in his strenuous efforts to stop corporate profits from disappearing or artificially shifting to low or no-tax countries.  Such actions, he said, undeniably result in greater confidence and trust for consumers and investors. 

 

Out the 15 Actions of the BEPS, Action 5, he added, presents a great opportunity to attract more international investors seeking to meet the new substance requirements to establish their base in Mauritius thereby taking advantage of our quality work force, well-developed infrastructure, network of double taxation and bilateral investment protection treaties.  In turn, he said, the Mauritian economy benefits by job creation and a more skilled workforce.

 

 

13th Asia/Africa IFA Conference 2019

 

The two-day conference, currently being held in Mauritius, aims to help in bringing experts on a same platform to exchange views and agree on concerted and coherent action to avoid double or over-taxation. Inputs will contribute to formulate better policies so as to create the appropriate ecosystem to allow legitimate ambitions of businesses and individuals to blossom and flourish. 

 

Some of the topics of discussion include Taxation of Digital Economy; Blockchain implementation; Private wealth and family offices; and Post-BEPS tax reforms in Mauritius: addressing harmful tax practices.

 

 

 

Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: gis@govmu.org  Website:http://gis.govmu.org
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