Mauritius Hosts Asia/Africa International Fiscal Association Conference

The 6th Edition of the Asia/Africa International Fiscal Association Conference organised by the International Fiscal Association (IFA) of Mauritius opened yesterday at the Hilton Hotel, Wolmar, Flic en Flac.

The two-day conference, with focus on the theme “International Tax Developments-Global and Regional”, aims at promoting a better understanding of international taxation and its incidence on cross-border trade and investment. Participants, mostly experts in the financial sector, are examining issues relating to the structuring of investment in Asia and Africa, double taxation agreements and a better cooperation and effective exchange of tax information.

The conference is also serving as platform for the participants to address investment opportunities that Africa offers in various sectors, such as energy, mining, construction and in telecommunications and IT.

Speaking at the opening of the conference, the acting Minister of Finance and Economic Development, Dr Vasant K. Bunwaree, said that government is committed to consolidate the position of Mauritius as the jurisdiction of choice for investing into Africa. The emergence of Mauritius as a major contributor of Foreign Direct Investment to India and China, he said, is due to a number of factors namely favourable tax treaties; the quality of the services offered by the Mauritius International Financial Centre, a highly competent pool of professionals, the quality of our regulatory framework, cultural affinities and the long historical ties with both China and India.

The acting Minister of Finance added that globalisation and disappearing boundaries have led to an increase in the cross-border trade and investment, stressing that an increasing number of activities conducted on a transnational basis have led to the growing impact of international taxation.

It will be recalled that the Mauritius Branch of the IFA is operational since 2004 and has organised three regional conferences on various taxation topics and other issues of current importance. The objectives of the Association are to assist and facilitate the activities of IFA as its Mauritius Branch in co-operation with IFA headquarters. The IFA headquarters covers a wide network of 11 500 members, intellectual resources and institutions in 102 countries across the globe.