The island nation received requests for information in 97 cases from India during the year ended August. The Mauritius government official said the 85 per cent of those requests have been resolved and efforts are on to address concerns of Indian authorities in the remaining ones. “Between August 2013 and August this year, we have […]

Dispelling ‘misperceptions’ that Mauritius is a tax haven its financial sector regulator has said the island nation is in discussions with India to address concerns and make changes to the bilateral tax treaty. Emphasising that the country provides stability and predictability for investors, Mauritius’s Financial Services Commission (FSC) sought to allay concerns that the jurisdiction […]

Marc Hein says some changes in regulations recently introduced are far-reaching and Mauritius waits to see how they work in practice. Mauritius remains committed to prevent round-tripping—a form of money-laundering—and ensure that only companies meeting a certain amount of commercial “substance” are able to benefit from the double taxation avoidance agreement (DTAA) between India and […]

To further ring-fence its jurisdiction from any attempts of round-tripping and money laundering activities, Mauritius has agreed to include a ‘limitation of benefits (LOB)’ clause in its revised tax treaty with India. While specific details of this clause in the India-Mauritius tax treaty are being ironed out, LoB clauses are typically aimed at preventing ‘treaty […]

Emphasising that India-focussed overseas funds are subjected to stringent checks in Mauritius, financial services regulator here said it has stepped up enforcement of norms to prevent any round tripping of funds through the island nation. There are provisions to cancel the licence of entities if they are found to be indulging in round-tripping or money […]