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Mauritius ready to prevent abuse of India tax pact

NEW DELHI (Reuters) - Mauritius said on Tuesday it was willing to cooperate with India to prevent misuse of a tax treaty and said it had taken stringent steps to plug loopholes. India and Mauritius signed the double taxation avoidance agreement in 1983 but it periodically attracts criticism as a way for Indian companies to avoid paying capital gains tax in India. India's communists, who provide crucial support to the coalition government, pressed for a review of the treaty in May, after a severe correction in the stock market in which foreign investors sold large amounts of shares. "Let me state very clearly that we will collaborate to prevent any alleged misuse of the treaty," Ram Sithanen, deputy prime minister of Mauritius and minister of finance and economic development, told a news conference on a trip to New Delhi. read more.

Mauritius: New Projects to Meet Needs of Professionals

The visit of Gail Learmont, regional director for Information Services, Southern Africa, to British Council Mauritius was the occasion for the institution to take stock of its achievements and see where there is still room for improvement. The expert in information services also seized the opportunity to unveil a number of projects that will be implemented within the next few months in Mauritius. The opening of the Knowledge and Learning Centre (KLC) last February has been one of the major events of the British Council for the past few years. This centre is not only a place where members can access books, libraries and the Internet. As a one-stop shop, it also caters for those needing to register for courses, exams or in search of educational information. But the KLC can also be seen as a drop-in facility for those who simply want to relax over a cup of coffee while keeping in touch with the latest trends in the UK. read more.

Mauritius surprise Tunisia

Johannesburg - World Cup finalists Tunisia were held to a 0-0 draw - but two of Africa's other football representatives in Germany last June made positive starts to their 2008 African Nations Cup campaigns on Sunday. Angola beat Swaziland 2-0 away while Togo overcame neighbours Benin 2-1 in Lome in their first qualifying matches for the next finals in Ghana. A penalty squandered in the first half cost Tunisia victory in their opening qualifier against hosts Mauritius in Curepipe. Veteran goalkeeper Orwin Castel saved a spot-kick taken by midfielder Hamed Namouhci to ensure a surprise point for the island nation. . read more.

SEBI slaps Rs 1-cr fine on Goldman Sachs

The Securities and Exchange Board of India has slapped a fine of Rs 1 crore on Goldman Sachs Investment (Mauritius) Ltd (GSIML) for making false declaration regarding issuance of Offshore Derivative Instrument (ODI) to Overseas Corporate Bodies (OCBs). It was prima facie made out that Goldman Sachs (GSIL), an affiliate of GSIML, a sub-account registered with SEBI, had issued ODIs to Magnus Capital Corporation Ltd (MCCL), an OCB, in November 2002. Under the SEBI rule, all FIIs/sub-accounts are required to give an undertaking declaring their outstanding offshore derivative instruments. GSIML had made an undertaking that it had not issued any ODI, which, according to SEBI, was not true. SEBI is of the view that Goldman Sachs is expected to have compliance of the highest level, which was found lacking in the instant case. read more.

India relooks at taxation treaty with Mauritius

NEW DELHI: India and Mauritius on Monday initiated a high-level review of the double taxation avoidance treaty, which New Delhi says helps many companies to escape the tax net. During a ministerial-level, India is learnt to have pitched for restricting benefits to only those companies which have invested beyond a certain threshold in Mauritius and have had a presence in that nation for a considerable period of time. Besides, it wants Mauritius to increase the flow of information beyond the know-your-customer norms, which was agreed upon a few years ago as part of a clampdown on post box companies that had no presence in the country but merely set up an entity to avoid paying taxes in India. Mauritius is the largest source of FDI for India and concerns have been voiced by regulators like Sebi and RBI over FIIs using the country which has ethnic links with India. read more.Your curiosity in this engrossing subject matter no doubt started because of an ad you ran across. The greatest sources to uncover entirely the form of Vacanze Golf A Mauritius advice you are searching for is here on the internet by way of the plentiful search engines at hand. Tons of studying has been invested learning the research that we are bringing to you. We are working zealously to assemble the most intelligible resources in existence to you in one well-organized location. The most praised channels for reliable data are effortlessly located. I want to encourage you to return sometime soon and investigate the fresh advice we will have. Related pages:
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