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Republic of South Africa – New Treaty The new Mauritius-South Africa Double Taxation Agreement (the “New DTA”), signed on 17 May 2013, has been ratified by both countries and will replace the existing Mauritius-South Africa Double Taxation Agreement that was signed by the two contracting states on 5 July 1996. It is expected that the New DTA will come into effect on 1 January 2016 in both Mauritius and South Africa.
A Memorandum of Understanding (“MOU”) was also signed by both contracting states on 22 May 2015 to address the dual residence dilemma that may be faced by a person other than an individual (Entity) pursuant to Article 4(3) of the New DTA.
The MOU outlines the factors to be taken into consideration by the Competent Authorities of the contracting states in determining the place of residency of an Entity.
If you missed our Newsletter on the New Mauritius-South Africa DTA, you can still access it here.
Mauritius-India Treaty – Conclusion of negotiations The Mauritius-India Joint Working Group has finally reached an agreement on the Mauritius-India Treaty following discussions held on 30 June 2015 in India.
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Mauritius signs a multilateral agreement with the OECD |
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Vishnu Luchmeenaraidoo, the Minister of Finance and Economic Development, has signed a Multilateral Agreement on Exchange of Information with the Organisation for Economic Cooperation and Development (OECD) on 23 June 2015. |
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Recent developments at the Board of Investment (BOI) |
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Inauguration of BOI office in Paris
In line with the objectives announced earlier this year in the Budget 2015-2016, the Minister of Finance and Economic Development launched the BOI office in Paris on the 23 June 2016 during his official mission.
Launch of the BOI One Stop Shop (BOI OSS)
The BOI has launched the BOI OSS on 1 July 2015. The main objective of BOI OSS is to act as a facilitator for enterprises which will be involved in projects worth over MUR 20 million. The BOI OSS will advise and guide these enterprises all throughout their set up and licences/permits applications.
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AGOA – extension of agreement for 10 years |
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| The US congress has approved the extension of the African Growth and Opportunity Act (AGOA) for another 10 years till September 2025, on Friday 26 June 2015. The AGOA provides duty free access to sub-Saharan African countries on the U.S. markets for certain goods such as clothing. This largely explains the noticeable surge in the number of textile factories on the African continent over the past few years.
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Mauritius maintains top spot on the Global Peace Index |
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According to the Global Peace Index Report 2015 published by the Institute for Economics and Peace in June 2015, Mauritius still ranks 1st in Sub-Saharan Africa. However, Mauritius experienced a slight downward shift on the global ranking by sliding from the 24th position in 2014 to 25th in 2015.
To read the full report, click here
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Ebola – list of affected countries |
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On 9 May 2015, the World Health Organisation declared Liberia free of Ebola virus transmission. The strong collaboration between international aid organisations and the local authorities in Liberia was the key to the success of this battle against the epidemic outbreak. The Mauritian authorities have therefore lifted travel restrictions for holders of the Liberian passports.
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