Subject: ITL Flash News

View this email online if it doesn't display correctly
Mauritius: Not blacklisted by Netherlands
As part of its initiatives to combat tax avoidance, the Netherlands has drawn up a list of low-tax jurisdictions¹ (the “Dutch List") which will henceforth be subject to more stringent measures and scrutiny by the Dutch authorities. 

The Dutch list, which comprises low-tax jurisdictions¹ that have been flagged by the Dutch Authorities in addition to the ones that have been blacklisted by the European Union, was published on the 28 December 2018 and includes the following countries: 

Countries:
  • American Samoa²
  • US Virgin Islands²
  • Guam²
  • Samoa²
  • Trinidad and Tobago²
  • Anguilla
  • Bahamas
  • Bahrain
  • Belize
  • Bermuda
  • British Virgin Islands
  • Guernsey
  • Isle of Man
  • Jersey
  • The Cayman Islands
  • Kuwait
  • Qatar
  • Saudi Arabia
  • Turks and Caicos Islands
  • Vanuatu
  • United Arab Emirates
¹ These jurisdictions either have no corporation tax or have a corporation tax rate that is lower than 9% 
² Countries blacklisted by the European Union 

The Dutch List will be updated each year, while the EU list will be updated in the first quarter of 2019. If, in the future, jurisdictions are added to the EU list that are not on the Dutch List, the measures will also apply to these jurisdictions. 

Countries appearing in the Dutch List will be subject to more stringent measures, as summarized below: 

- Additional measures to be imposed on controlled foreign companies (CFCs) as from on 1 January 2019 
- The imposition of a conditional withholding tax of 20.5% on interest and royalties received from the Netherlands as from 1 January 2021 
- The Dutch Tax and Customs Administration will no longer issue rulings on transactions with companies headquartered in these countries 

For recall, Mauritius is rated as a Compliant jurisdiction by the Organisation for Economic Co-operation and Development (OECD) and the fact that the island nation has not been blacklisted by the Netherlands as well as the European Union, reinforces its position as a jurisdiction of substance and transparency. 

For more information about the Dutch Blacklist, please click Here
ITL Data Protection compliance programme - Reminder

As you are aware, we hold your contact details on our database and have been sending you regular newsletters and updates about the latest developments in the Mauritius financial landscape and other areas of interest.

Following recent changes in the EU General Data Protection Regulation (GDPR) and the Mauritius Data Protection Act 2017, we now require your consent to hold your personal data. Please click here to confirm that you still want to hear from us and get the latest news about the Mauritius International Financial Centre.

Should you wish to opt out of our future e-mail communications, please click here to stop receiving correspondence from ITL. Alternatively, you may use the unsubscribe button at the bottom of all our communications or send us an e-mail at unews@intercontinentaltrust.com


Data security and protection is of prime importance to us and we invite you to read our privacy policy which provides information about how we manage and process your personal information.

We are only a phone call or an e-mail away. If you have any comments, questions or concerns about any of the information in our policy, or any issues relating to the processing of personal data by ITL, please contact your regular contact person at ITL or write to us on mauritius@intercontinentaltrust.com

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.

Intercontinental Trust Limited, Level 3 Alexander House, 72201, Ebene, Mauritius
You may unsubscribe or change your contact details at any time.