Subject: ITL e-News - December 2021

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Ending 2021 on a positive note…


As we share with you our last round of e-news for 2021, we hope to have remained a trusted source of pertinent information to you. We promise to be back next year with more news and updates. On behalf of the ITL Family, we wish you sound health and prosperity in this New Year.

Mauritius News

News snippets from the Global Business Industry and others

Global Business & Financial Services

FSC: Extension of due dates for filing of Financial Statements and Returns

On 24 November 2021, the Financial Services Commission (FSC) released a communique to inform relevant stakeholders of the extension of the timeline for filing of financial statements, statutory returns, risk management framework, auditor’s report and actuary report (collectively referred to as “RMF Returns”) for licensees (including those registered as Reporting Issuers).


FSC: Regulatory Framework for Crowdfunding

On 4 September 2021, the Financial Services (Crowdfunding) Rules 2021 came into operation and set out to establish a regulatory framework for this new form of financial access.


Promulgation of DTAA between Mauritius and Germany

Further to the amendments brought to the Double Taxation Avoidance Agreement (DTAA) between Mauritius and Germany, the Minister of Finance, Economic Planning and Development is set to promulgate the Double Taxation Avoidance Agreement (Federal Republic of Germany) (Amendment) Regulations 2021.


Banking & Finance

BoM: Key Repo Rate maintained at 1.85%

The Bank of Mauritius (BoM) released a communique on 15 December 2021 further to a meeting held by the Monetary Policy Committee (MPC), where the decision was taken to maintain the Key Repo Rate (KRR) at 1.85% per annum.


International Benchmarks

Global Mobility Report Q4 2021: Mauritius maintains 2nd spot in Africa

Amid the travel industry struggling to rebound from the far-reaching effects of the pandemic, Henley and Partners came out with its latest Global Mobility report, where it delivered valuable insight on the latest trends for the last quarter of 2021.


2021 Legatum Prosperity Index: Mauritius remains the most prosperous country in Africa

With nations charting their way in and out of an undisturbed pandemic, the latest Legatum Prosperity Index (the “Index”), released in October 2021, concluded once again on prosperity stalling across the World.


Travel & Tourism

Latest updates on travel restrictions

In light of the recent detection of the highly transmissible coronavirus variant – Omicron – in South Africa and neighbouring countries, the Mauritian Government announced its decision to close borders to travellers from South Africa, Namibia, Lesotho, Botswana, Eswatini and Zimbabwe, effective since Monday 29 November 2021.


Seychelles News

News tidbits from Seychelles

Seychelles receives B+ Fitch Ratings upgrade

On 19 November 2021, Fitch Ratings (“Fitch”) upgraded Seychelles' Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'B+' from ‘B’ with a Stable Outlook.

 

 ITL Season's Greetings 2022

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DISCLAIMER

The information in this e-newsletter was prepared by Intercontinental Trust Limited to provide potential clients with a broad overview of the opportunities available in Mauritius. While all reasonable care has been taken in the preparation of this e-newsletter, Intercontinental Trust Limited accepts no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person that relies on it. Readers are advised to consult with appropriate, qualified professional advisors before taking action. Intercontinental Trust Limited will be pleased to discuss any specific issues.

    This is an online snapshot of a newsletter created by the owner of enews2015 (Intercontinental Trust Limited, Level 3 Alexander House, 72201 Ebene, Mauritius) and sent via GetResponse on 2021-12-20. Report abuse