The meeting of the Joint Working Group (JWG) between Mauritius and India for the negotiation of the India-Mauritius Double Taxation Avoidance Agreement (DTAA) is expected to be held soon.
This statement was made yesterday by the Vice-Prime Minister, Minister of Finance and Economic Development, Mr Xavier-Luc Duval, at a press conference in Port Louis, where he added that the Mauritian authorities are in the process of finalising a date for the JWG meeting with the Indian authorities. VPM Duval also evoked the issue regarding the signing of a Tax Information Exchange Agreement between the two countries and he said that the intent of Mauritius towards the ratification of the agreement already demonstrates that Mauritius is a clean jurisdiction which does not tolerate any illegalities.
In the wake of the presentation of the Indian budget, VPM Duval also spoke on the introduction of the General Anti-Avoidance Rules (GAAR), where he underlined that according to the Indian government, GAAR will come into effect in 2016. On this score he said that Mauritius still needs to clear any uncertainties arising under the DTAA. Furthermore, he expressed his satisfaction that the Indian authorities have shown their determination to keep the Tax Residence Certificate under the agreement.
Mr Duval also announced his participation in the Strategic Growth Forum organised by the international firm Ernst & Young to be held on 7 and 8 March in Cape Town, South Africa.
His visit follows an official invitation of Ernst & Young and VPM Duval will also intervene on the theme: Creating an African business hub in Mauritius. The forum will provide an opportunity to market Mauritius as a platform to invest in Africa.
The forum will help bring under one umbrella Ministers, leading entrepreneurs, investors and top executives to share their innovative experiences and discuss the challenges for high-growth businesses. In addition to providing networking between the participants, the event also offers the opportunity for potential entrepreneurs to exploit and develop business in the region.
During his mission in Cape Town, VPM Duval will also participate in an investment promotion forum organised by the Board of Investment.
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