Pillsbury World Aircraft Repossession Index

Covering 57 popular jurisdictions worldwide in which aircraft are registered and operate, the Pillsbury World Aircraft Repossession Index summarizes in graphical form expert analysis provided by reputable local counsel and numerically scores the legal environment for repossessing aircraft in each participating jurisdiction. Each jurisdiction is scored on the basis of seven differently weighted criteria: repossession, insolvency, deregistration, export, enforceability of judgments, preferential liens and political stability.

Jurisdictions covered: Aruba, Australia, Austria, Azerbaijan, Belgium, Bermuda, Brazil, Bulgaria, Canada, Cayman Islands, Chile, Costa Rica, Denmark, Dominican Republic, Egypt, El Salvador, Fiji, France, French Polynesia, Germany, Guatemala, Hungary, India, Indonesia, Ireland, Israel, Italy, Jordan, Kazakhstan, Kenya, Korea, Latvia, Lebanon, Lithuania, Malaysia, Mauritius, Mexico, Mozambique, Netherlands, New Caledonia, New Zealand, Nigeria, Norway, Oman, Pakistan, Peru, Poland, Portugal, Romania, Russia, Slovenia, Sri Lanka, Turkey, Ukraine, United Arab Emirates, the United Kingdom, and the United States.

IFC Economic Report - Compliant, Transparent and Ready for Business

This special stand-alone edition of the IFC Economic Report provides the world’s wealth structuring practitioners with a unique perspective on the ongoing developments within IFCs. As well as highlighting the world class regulation to be found there, this influential report offers comprehensive and sophisticated analysis on structuring through them.

Open Data Readiness: Mauritius well positioned to start implementing

Mauritius is well placed to implement an open data initiative and demonstrates strong top-level commitments to transparency and to innovation, reveals an Open Data Readiness Assessment (ODRA) conducted by the World Bank in June this year in the context of the Open Data programme for the country.

An Open Data Readiness validation workshop was held yesterday afternoon at the Rajiv Gandhi Science Centre, in Bell Village, during which the ODRA findings were presented to stakeholders.  Organised by the Ministry of Technology, Communication and Innovation (MTCI), the event brought together stakeholders from several sectors to validate the World Bank’s assessment of the country’s situation on open data readiness.

The ODRA reveals that Mauritius is well poised to open up datasets.  Some 15 datasets spanning budget data, expenditure data, labour statistics, education and health statistics and many more are ready to be made available in machine readable format and so released as open data, that is, data that can be used, reused and redistributed freely.

Other main findings also show the following: there is a strong demand for open data from developers, private sector and researchers; and, Government could move quickly with an open data since it already publishes statistical data, but needs to conform to requirements of open data (terms of use and format).

In order to implement a sustainable program, the ODRA recommends the importance of a strong and sustained leadership across Government.  It also notes that the MTCI and Statistics Mauritius are well placed to lead change at operational level with the support from the Reforms Steering Council and Ministries.

The Open Data programme

It is recalled that Mauritius is moving forward with an Open Data programme conducted in partnership with the World Bank.  Hence, in June 2015, a World Bank field mission was in the country to assist in the evaluation of its situation on open data readiness and provide valuable inputs to help come up with the right strategy to exploit open data initiatives as is the case in large democracies like India and the USA.

In the context of the assessment, a series of focused meetings/interviews were held with key stakeholders including government, citizens and businesses.  Main themes addressed were: leadership, law, Government institutions, management of data, demand for data, capabilities of business, finance and national IT infrastructure.

Some benefits of open data include: transparency and accountability (civil society organisations and media will analyse the data and publish results feeding into policy); data exchange across government (obtaining datasets within government becomes easier); and data-informed policy making (policymakers base their decisions on applicable, relevant data).

Data has become the new oil in today’s world.  By going through open data, economies across the world from Europe, America, Asia to Africa, have witnessed a boost in economic growth.

Mauritius firms used to hold outbound investments from Thailand

Mauritius has been the holding-company jurisdiction of choice for Thai multinationals seeking to make overseas investments, because of the synergy between Thai and Mauritius corporate-income-tax regimes

The Nation

Doing Business 2016: Measuring Regulatory Quality and Efficiency

Doing Business 2016: Measuring Regulatory Quality and Efficiency, a World Bank Group flagship publication, is the 13th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies—from Afghanistan to Zimbabwe—and over time.

Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also measures labor market regulation, which is not included in this year’s ranking.

Data in Doing Business 2016 are current as of June 1, 2015. The indicators are used to analyze economic outcomes and identify what reforms of business regulation have worked, where and why. This year’s Doing Business report continues a two-year process of introducing improvements in 8 of 10 Doing Business indicator sets—to complement the emphasis on the efficiency of regulation with a greater focus on its quality.

Main Findings

Doing Business 2016: Measuring Regulatory Quality and Efficiency finds that entrepreneurs in 122 economies saw improvements in their local regulatory framework last year. Between June 2014 and June 2015, the report, which measures 189 economies worldwide, documented 231 business reforms. Among reforms to reduce the complexity and cost of regulatory processes, those in the area of starting a business were the most common in 2014/15, as in the previous year. The next most common were reforms in the areas of paying taxes, getting electricity and registering property.

Costa Rica, Uganda, Kenya, Cyprus, Mauritania, Uzbekistan, Kazakhstan, Jamaica, Senegal and Benin are among the economies that improved the most in 2014/2015 in areas tracked by Doing Business. Together, these 10 top improvers implemented 39 regulatory reforms making it easier to do business.

Sub-Saharan Africa alone accounted for about 30% of the regulatory reforms making it easier to do business in 2014/15, followed closely by Europe and Central Asia. Members of the Organization for the Harmonization of Business Law in Africa were particularly active: 14 of the 17 economies implemented business regulation reforms in the past year—29 in total. Twenty-four of these reforms reduced the complexity and cost of regulatory processes, while the other five strengthened legal institutions.

This year’s report adds indicators of quality to four indicator sets: registering property, dealing with construction permits, getting electricity and enforcing contracts. In addition, the trading across borders indicators have been revised to increase their relevance. The underlying case study now focuses on the top export product for each economy, on a very common manufactured product (auto parts) as its import product and on its largest trading partner for the export and import products.

Seven case studies featured in the report: Five focus on legal and regulatory features covered by new or expanded indicators being introduced this year—in the areas of dealing with construction permits, getting electricity, registering property, trading across borders and enforcing contracts. The other two analyze other areas of interest in the historical data set.

Introducing 'Aquacasia': The Menu that wants to turn Mauritius into a Global Foodie Hotspot

Esquire travel to the paradise resort of Shanti Maurice to try a new food concept that brings together the best dishes of the islands of the Indian Ocean

Inside the Secretive World of Tax-Avoidance Experts

A sociologist realized that if she were ever going to understand global inequality she would have to become one of the people who helps create it. So she trained to become a wealth manager to the ultra-rich.

From London to Mauritius: 150 years of globalised education

It was 150 years ago that the University of London teamed up with a college on an island in the Indian ocean. Sir Adrian Smith reflects on the significance of this partnership

The island that was once home to the Dodo wants to kill off thousands of protected bats

In a move that has outraged conservationists, the government of the Indian ocean nation of Mauritius is planning to kill off nearly 20,000 Mauritius fruit bats, a protected species that is found only on the island.

Mauritius: The Good Governance and Integrity Reporting Bill

Explanatory Memorandum

The main objects of this Bill are to –

(a) promote a culture of good governance and integrity reporting in Mauritius;

(b) stimulate integrity reporting in the public and private sectors;

(c) encourage positive reports of acts of good governance and integrity;

(d) disclose malpractices and recover unexplained wealth; and

(e) protect and reward persons making disclosures and reports.

S. BHADAIN

Minister of Financial Services,

Good Governance and Institutional Reforms

23 October 2015

Hara-kiri économique

On a beau dire que l’île Maurice n’est pas un «paradis fiscal» ni une «destination de trafiquants», mais notre actuel ministre des Finances n’en démord pas. Et ne voilà-t-il pas qu’il en rajoute une couche en laissant entendre que notre traité fiscal avec l’Inde favorise le «round tripping». On s’est blessé en se tirant une balle au pied, maintenant on se frappe mortellement pour en finir une fois pour toutes. La politique ne pourra pas renverser ce qui est technique : les jeux sont faits avant même la rencontre du Premier ministre mauricien avec son homologue indien.

defimedia.info/blog/

War on Want: Corporate tax dodging costs Zambia $3 billion a year

Zambia is losing $3 billion a year from corporate tax dodging according to a new report launched by War on Want. The sum is equivalent to nearly twice Zambia’s spending on health and education.

‘Extracting Minerals, extracting Wealth: How Zambia is losing $3 billion a year from corporate tax dodging’, examines the Zambian operations of Glencore, Vedanta and Associated British Foods – companies based in the UK or listed on the London Stock Exchange.

The report focuses on the complex corporate structures and mispricing that robs Zambia of revenue that could fund essential public services. It highlights how the ability of companies to get away with tax dodging depends on the willingness of governments around the world to allow them to do it.

Owen Espley, Economic Justice Campaigner at War on Want, said:

“This is a staggering sum of money to lose. In a country where 74% of the population live on less than $1.25 a day, this scale of tax dodging is depriving the Zambian people of revenue that could fund vital healthcare, public services and anti-poverty programmes.”

Public outcry over lost tax revenues led to Zambian government attempts in 2014 to address how mining companies avoided tax. These attempts were powerfully opposed by mining corporations, who threatened to cut thousands of jobs and billions of dollars of investment.

“While ordinary Zambians are being stripped of their wealth and power, the actions of the UK government continue to undermine Zambia’s attempts to collect tax revenues.

“George Osborne must abolish the UK network of tax havens and investigate the UK companies at the heart of this global extortion racket that is depriving Zambia of schools and hospitals.

“Global tax rules need rewriting, but this cannot be left to a rich nation’s club like the OECD. Developing countries must have an equal seat at the table, and until they do we will continue to see global corporations abusing their power and robbing nations of their wealth.”

Extracting minerals, extracting wealth: how Zambia is losing $3 billion a year from corporate tax dodging

Zambia has abundant natural resources - including minerals and agriculture yet gains little tax revenue from the extraction of its resources, leading to lost oppportunities to invest in public services such as education and health.

This report reveals how multinationals are able to avoid paying their fair share of tax. It looks at three companies: Glencore, Vedanta and Associated British Foods which are based in the UK or are listed on the London Stock Exchange. The report describes a total of $3 billion beling lost to the Zambia exchequer as well as the powerful international opposition Zambia faced when it attempted to reform its tax system to get a fair share.

Le temps de la transition

«Les mots sont des pistolets chargés». Cette citation sied parfaitement à la situation particulièrement délicate que vivent actuellement les opérateurs du global business. Pris en tenaille entre les commentaires du ministre des Finances et les attaques répétées de la presse internationale, notamment indienne, et de certaines organisations non gouvernementales étrangères, l’industrie ne sait plus à quel saint se vouer.

L'Express

Ginger Thai: Laissez-vous charmer par la Thaïlande

At the crossroads of many countries and cultures, Thailand retained and adapted to its own rich culinary identity, the best of Chinese, Portuguese and Indian cuisine. Already in the early 19th century, King Rama II composed a poem describing the variety of Thai cuisine.

Mauritius Diaspora Scheme

The government of Mauritius strongly believes that our dispersed Mauritian Diaspora community is a precious asset to our economy.

The Mauritian Diaspora Scheme has been set up with the aim to attract members of the Mauritian Diaspora back to Mauritius to participate in the economic development of the country.

Read More

Frontier Markets: Mauritius, Africa's Most Competitive Economy

About 500 miles east of the island of Madagascar, in the Indian Ocean, lays the idyllic island nation of Mauritius. The island lays on the trade routes that were so very important to the growing empires of France and Britain and was highly prized by both. Prior to that, both the Arabs and the Dutch had visited the island on several occasions, establishing colonies. The British brought Indian troops to the island after the First World War and turned them into indentured labor to help on the sugar cane plantations, but their plight was much better than slaves and eventually they became an integral part of the multi-ethnic culture of the island.

FSC Mauritius - Vacancy: Position of Chief Executive

The Commission is inviting applications from high calibre professionals for the position of Chief Executive. The appointed person will have the ultimate responsibility to ensure that the strategic objectives and operational goals of the Commission are achieved whilst providing strategic leadership direction to staff of the Commission.

Candidates need to possess relevant regulatory experience and a good understanding of working with a wide and diverse group of stakeholders.

Employment will be on a contractual basis for an initial period of 2 years.

Benefits comprise of an internationally attractive remuneration package, which will commensurate with qualifications and experience.

For further information and a detailed Position Description, log on to the Commission’s website (Careers Section) at: www.fscmauritius.org

Closing date for applications is 05 November 2015.

The Commission reserves the right:

• To call only the best qualified and experienced candidates for the selection exercise; and
• Not to make any appointment as a result of this advertisement.

Financial Services Commission

19 October 2015

FSC Mauritius issues Public Notices – Revocation of the Investment Adviser (Unrestricted) Licences and Category 1 Global Business Licences

• FSC Mauritius issues Public Notice -     Revocation of the Investment Adviser (Unrestricted) Licence and Category 1 Global Business Licence of EntreCap » Read More
• FSC Mauritius issues Public Notice -   Revocation of the Investment Adviser (Unrestricted) Licence, Treasury Management Licence and Category 1 Global Business Licence of CountingHouse Limited » Read More
• FSC Mauritius issues Public Notice - Revocation of the Investment Adviser (Unrestricted) Licence and Category 1 Global Business Licence of MountRock Investment Management » Read More

Mauritius eyes Africa as pressure mounts on offshore business

• Indian tax treaty propelled island's finance industry
• New Delhi's demand for changes may hit business
• Global pressure to stop firms tax "treaty shopping"
• Mauritius eyes Africa to drive financial services

Concerned about the impact of tax havens, world powers are tightening the noose on multinationals seeking tax advantages and India wants changes to its tax treaty with Mauritius, forcing the island's new government to re-examine its business model and focus elsewhere.

Reuters