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New Singapore & India
protocol: Mauritius gains supremacy |
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| The recent amendments to
the India-Singapore tax treaty, through the signing of a protocol on 30
December 2016, will no doubt spark a ripple of confidence over Mauritius as it
consolidates its position as the preferred jurisdiction for international investors
wishing to invest in India. |
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FSC clarifies the requirements for availing tax holidays |
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·
Global Headquarters
Administration
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Global Treasury
Activities
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Overseas Family Office
(Single)
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Overseas Family Office
(Multiple)
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Investment Banking
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Global Legal Advisory
Services
As previously communicated in our November 2016 newsletter, companies
holding the above-mentioned licences issued by the FSC on or after 1 September
2016 will be granted tax holidays on the income derived from activities covered
under these licences, provided that they satisfy the minimum employment
criteria and the substance requirements (the “Conditions”) as specified by the
FSC.
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Mauritius: Prime source of FDI into India
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According to the Census on Foreign Liabilities and Assets of Indian Direct Investment Companies for 2015-16 released by the Reserve Bank of India on 19 December 2016, Mauritius was the main source of Foreign Direct Investment (FDI) for India until March 2016. In fact, the island nation accounted for 20.8% of the total FDI ahead of the US, UK, Singapore and Japan.
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Mauritius 2016: Economic retrospective
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Amidst the difficult global economic climate that prevailed in 2016, Mauritius managed to achieve a steady growth as a result of the innovative measures that were introduced by the government and other competent authorities including the Board of Investment (BOI).
In 2016, mounting investor confidence in the economy was manifested through the tremendous increase in the Foreign Direct Investment received by Mauritius: from MUR 9.7 billion (USD 262m) in 2015 to est. MUR 14 billion (est. USD 378m) in 2016.
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