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FSC issues circular letters to clarify on the requirements to avail tax holidays
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• Global Headquarters Administration, Global Treasury Activities, Overseas Family Office (Single), Overseas Family Office (Multiple), Investment Banking & Global Legal Advisory Services |
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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 MUR 14 billion (USD 378m) in 2016.
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Singapore & India sign protocol amending tax treaty |
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The protocol signed on 30 December is largely along the lines of the one signed by Mauritius with India last year, where India gains source based taxation rights on the alienation of shares of Indian resident companies, except for a few variances.
Watch out for our upcoming newsletter that will provide an in-depth analysis/comparison of the 2 protocols.
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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.
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