The financial services industry will continue to be the linchpin of our economy. We have taken it to great heights of success. But we will not rest on our laurels. We will provide strong support to the financial services industry to weave new business links with the rest of the world, comply fully with international norms and diversify its products.
Legislation has already been passed to promote Limited Partnerships.
We will soon set out the legal framework to promote:
- Foundations;
- Private Occupational Pensions; and
- New concepts of Trusts.
These should significantly widen the spectrum of financial vehicles in our jurisdiction.
The Government of Mauritius will continue to protect our country’s best interest with regards to the India/Mauritius Double Taxation Avoidance Agreement.
The ‘Code Civil Mauricien’ will be amended to provide for an appropriate legal framework which would govern leasing of both immovable and movable property, especially finance leasing.
As regards the insurance sector, we are abrogating legislation that would have allowed local assets to be insured with an insurance company based in a foreign country in 2013.
A solidarity levy will cover Management Companies in the Global Business Sector. The levy will be 10 percent of chargeable income and will be applicable for 2 years ending in 2013.
No comments:
Post a Comment