The avant-gardist mindset instilled by its leaders and the inexorable drive to promote Africa to international investors have positioned Mauritius as the business center of excellence for the region.
In fact, the island nation has a lot to offer to investors: political stability guaranteed by parliamentary democracy based on Westminster Model, a modern legal and banking system, a solid corporate governance framework, investment protection through its numerous Investment Promotion and Protection Agreements as well as a conducive fiscal regime, just to name a few.
Along this line of vision, several innovative measures were announced in the budget speech 2016/2017 including changes proposed to the Income Tax Act that would allow more fiscal flexibility to investors operating in the finance sector. A number of corporations and individuals licensed by the Financial Services Commission (FSC) have been granted tax holidays on their emoluments subject to meeting the conditions attached thereto.
In that respect, the Income Tax (Amendment of Schedule) (No.2) Regulations 2016 (the “Regulations”) were made on 31 October 2016 and gazetted on 5 November 2016. The
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