Port Louis: Facing allegations of being a route for round-tripping of funds and money laundering by Indian entities, Mauritius says it is fully committed to remain a credible financial centre and there has been 170 cases of exchange of information with Indian authorities in the past three years. Allaying the perception of Mauritius being a tax-haven, the government's investment promotion agency Board of Investment (BOI) also said that Mauritius on contrary is recognised as "a clean, efficient and compliant jurisdiction". This view is supported by global bodies like International Organisation of Securities Commissions (IOSCO), International Association of Insurance Supervisors (IAIS), Financial Action Tax Force (FATF) and Islamic Financial Services Board (IFSB), it said.
Besides, the country has one of the world's most stringent anti-money laundering legislations, showing the "pro-activeness of Mauritius to prevent any kind of illicit transactions from being structured in the country", the BOI said in its latest report on the Mauritian economy. "The Mauritius Revenue Authority has fully collaborated with information requests and remains committed to do so. In fact, over the last three years, effective exchange of information has taken place in 170 cases between MRA and the competent Indian authorities in India, of which some are even outside the framework of the DTAA," the BOI said.
India and Mauritius are now looking to revise their Double Taxation Avoidance Treaty (DTAA), which currently does not have provisions like banking information exchange. Mauritius Finance Secretary Ali Mansoor also said at an international taxation conference in
02:48 PM, May 17, 2013
President Pranab Mukherjee paid a three day state visit to the Republic of Mauritius from March 11 to March 13, 2013. His entourage included Minister ...
03:15 PM, Apr 01, 2013
I have completed a little over two years in Mauritius. My responsibilities as the National Security Advisor does not entail to follow society related developments ...
10:53 AM, Mar 25, 2013
President Pranab Mukherjee on Tuesday attended the national day celebrations of Mauritius as the chief guest, with the event featuring performances of local and foreign artists, including a contingent of Indian Navy and singer Shibani Kashyap. ...
12:22 AM, Mar 13, 2013
India and Mauritius are jointly working to find out a mutually acceptable and beneficial outcome on the Comprehensive Double Taxation Avoidance Agreement (DTAA) which will be a "win-win" situation for both, President Pranab Mukherjee has said. ...
03:59 PM, Mar 12, 2013
India and Mauritius on Monday reviewed their co-operation to strengthen the partnership between the two countries and discussed regional and global issues of common interest. "My consultations with President (Rajkeswur) Purryag have been frank and cordial. We reviewed the co-operation between our Governments and discussed regional and global issues of common interest," President Pranab Mukherjee wrote in the visitors' Book after meeting the President of Mauritius. ...
02:16 AM, Mar 12, 2013
India and Mauritius, the strategically located Indian Ocean island nation on January 4 decided to intensify counter-piracy cooperation and explored ways to scale up bilateral trade and investment. External Affairs Minister Salman Khurshid called on visiting Mauritius President Rajkeswur Purryag and discussed a host of bilateral issues. Purryag, who is of Indian origin, on January 3 began a week-long visit to India. ...
03:36 PM, Jan 04, 2013
New Delhi: The Central Bureau of Investigation submitted its status report in the Aircel-Maxis deal in the Supreme Court on Wednesday. The deal involves former telecom minister Dayanidhi Maran and a Malaysian business tycoon. The CBI also told the court that its domestic investigation into the deal is complete but the overseas probe was being delayed due to the influence of the firm's owner in Malaysia who is "powerful politically"....
04:38 PM, Nov 07, 2012
New Delhi: Mauritius on Friday expressed its readiness to expeditiously revise the tax treaty with India to check tax evasion but asserted that domestic laws should not have precedence over the provisions of the bilateral pact. "We want earlier resolution because we do not want uncertainty, as instability and uncertainty is not good for both countries," Mauritius Minister of Foreign Affairs, Regional Integration and International Trade, Arvin Boolell, told a...
08:46 PM, Jul 06, 2012
New Delhi: Mauritius has emerged as favourite destination for overseas investment by Indian corporates, replacing Singapore, accounting for $2.27 billion outward FDI during April-February, 2012. The island nation is also the major source of FDI inflows into India, accounting for about 40 per cent of total flows. During 2008-09 and 2009-10, Singapore attracted the highest FDI from India, but in the following two years Mauritius become the top destination for...
02:49 AM, Mar 06, 2012
New Delhi: There has been no headway in the Indo-Mauritius talks on the double taxation avoidance agreement (DTAA) as of yet. Government sources indicate that Mauritius is unwilling to allow taxation of capital gains as it feels the move will impact the country's economy. India was keen that investment from Mauritius be subject to capital gains tax because there was a lot of round-tripping. Companies were setting up subsidiaries in...
12:18 AM, Feb 09, 2012
New Delhi: Amidst concerns over Mauritius being used as a major route for avoidance of taxes on investments by Indian companies, Prime Minister Manmohan Singh and his counterpart Navinchandra Ramgoolam on Tuesday agreed on early conclusion of an agreement aimed at tackling this menace. The two leaders reviewed the status of negotiations on the revised Double Taxation Avoidance Agreement (DTAA) during their talks here and directed officials to fast-forward talks...
11:10 PM, Feb 07, 2012
New Delhi: A team of CBI officers would be leaving for Mauritius next week to track the trail of money invested in various telecom companies involved in the 2G spectrum allocation scam, CBI told the Supreme Court on Friday. Senior advocate KK Venugopal appearing for the investigating agency said the team would be leaving on May 16 and will file its report before the court on the investigation done by...
04:58 PM, May 13, 2011
New Delhi: There could be a possible link between the promoters of Lilavati hospital and telecom companies named in 2G spectrum scam. Four trustees of Lilavati Hospital - Prabodh, Rashmi, Chetan and Bhavin Mehta have shell companies registered in Mauritius. The address of these companies are the same as that of the 2G scam companies. Last month, CNN-IBN exposed how Mehtas were involved in hawala transactions and black money accounts...
07:54 PM, Mar 31, 2011
Stay in a five-star hotel for six night and seven days for Rs 55,000 only. ...
01:13 PM, May 26, 2009
On Saturday, IPL terminated Sony as the official broadcaster. ...
12:20 PM, Mar 17, 2009
Kareena and beau Saif are in Mauritius for a photoshoot. ...
02:44 AM, Feb 28, 2009
There is no news on Chaitlall Gunness, the CEO of a Mauritian state bank. ...
06:17 PM, Nov 27, 2008
Local media reported the accident was caused by a bird that hit the plane. ...
04:10 PM, Jul 25, 2008
Prime Minister calls upon the Biharis settled in Mauritius to make a Mauritius out of Bihar ...
08:16 PM, Jan 07, 2007
