05 June 2004

Mauritius: FSPA "2 year Postgraduate Diploma in International Tax Planning"

The Financial Services Promotion Agency (FSPA) is launching its postgraduate qualification course in International Tax Planning for its next intake in August 2004.

International taxation deals with the rules under domestic tax laws and tax treaties under international tax law. International tax planning uses the knowledge of international taxation to develop tax-efficient tax structures on cross-border transactions. Owing to the complexity of the subject, international taxation is taught by very few academic institutions in the world. It is learnt largely through in-house experience or training programmes within international professional firms.

The FSPA considers that there will be significant benefits in having an internationally recognised Diploma. Those individuals following the course will indicate a high level of competence in International Taxation and a successful candidate will be able to demonstrate knowledge in the following areas:

• the principles of international taxation
• in-depth knowledge of international tax issues for their primary jurisdiction
• an awareness of basic tax issues, particularly in relation to international tax, in at least one secondary jurisdiction

Currently, overseas professional advisors do most of the tax planning on assignments involving Mauritius global business as many local professionals lack either the knowledge or the experience in the subject. This course is designed to provide the necessary training to develop their expertise locally. It will impart them with the knowledge to enable them to perform more value-added services and, thus, help to enhance the reputation of Mauritius as a high quality financial service centre. The experienced faculty and the high quality study materials provide a balance of practical and theoretical teaching techniques, making the learning relevant, as well as beneficial and motivational.

The Financial Services Promotion Agency has made arrangements with the Royal Society of Fellows in the United States to set and mark the examination papers and award the Diploma. The Royal Society of Fellows is a learned society of international tax professionals and academics. The Diploma applies towards the requirements of their Society and towards the title as a Fellow of the Society. It is also linked with the LL.M. program in international tax at the St Thomas University School of Law, Miami, USA. (For details see their website http://www.royalfellows.org)

In the global business, our customers and competitors are overseas. Although the market for global services continues to grow it is also very competitive. In order to maintain and expand our market share, we all need to continue to expand our knowledge base and develop our skills. The Financial Services Promotion Agency in Mauritius is here to assist you. Its mission is to bring you the best hands-on learning solutions at affordable cost to enable you to succeed in your business.

To ensure the high standards and personalised attention to the students, the student intake is limited. The registration for the course will be strictly on a first-come-first-served basis.

30 January 2004

U.S-Mauritius Trade and Investment Mission

The U.S. Embassy, in close collaboration with the U.S. Commercial Service based in Johannesburg, is planning a two-day U.S. - Mauritius Trade and Investment Mission to be held on April 1-2, 2004 at the U.S. Commercial Service Ron Brown Center in Johannesburg, South Africa.

The objective of this important business event is to bring a delegation of Mauritian businesspersons to Johannesburg to meet with U.S. companies in South Africa to explore trade and investment opportunities in Mauritius. There are more than 800 U.S. firms based in South Africa and we plan to specifically target those companies that have interest in expanding their business in the region. In addition to presentations of business opportunities in Mauritius by the Mauritian delegation, and presentations of support services available from the Foreign Commercial Service and other U.S. agencies, there will be opportunities for one-on-one meetings between the Mauritian and U.S. business delegates. We also envisage interactions with business in the U.S. via video conferences.

The Embassy is working with representatives of the Government of Mauritius as well as private sector institutions to plan this event. These include the Board of Investment, the American Chamber of Commerce, the Mauritius Freeport Authority, the Business Parks of Mauritius Ltd., the Financial Services Promotion Agency, the Mauritius Chamber of Commerce & Industry, and the Mauritius Export Processing Zone Association. All these agencies will be active participants in the trade mission in Johannesburg.

16 January 2004

The Impact of Global Financial Integration on Mauritius and Seychelles

This paper focuses on the obstacles and challenges of global financial integration faced by Mauritius and Seychelles, two small islands states in the Indian Ocean. It is argued that globalisation is rapidly, and to a large extent irreversibly, changing the way business and policy are conducted in small open economies and in the industrialised world. The paper also refers to the difficulties faced by small island states in their attempt to liberalise their economies, notably those related to intensification of competition, maintenance of sound macroeconomic policies, effective management of risks, cross-border bank supervision, modernization of financial legislation, and adaptation to changes in the international business cycle.