The tiny island of Mauritius spent years trying to clean up its image as a base for murky money launderers and shell firms. The short-seller allegations against billionaire Gautam Adani are once again reviving questions about the country’s role as a tax...
Commenting this week, Seeruttun said that reports like the one from Hindenburg do create doubts in the minds of some people about Mauritius, but the business community overseas has confidence in its jurisdiction. “Predictability, certainty, stability are the key words that they look for, and this is what Mauritius offers,” he said.
The country, which gained independence from the British in 1968, is now one of the wealthiest in Africa.make up close to 70% of its $12 billion economy. According to the Tax Justice Network, about 2.3% of global tax haven flows make their way through the island known for its luxury holiday resorts and pristine beaches. That compares with the 6.4% for top-ranked BVI.
For India, a succession of financial scandals and frustration at attempts to make foreign corporations pay more tax led to the two countries in 2016 reworking their treaty. It closed a popular loophole so India could tax short-term capital gains, though zero levies remain on investments held for over a year.India also tightened rules on so-called participatory notes, which were used to anonymously invest in Indian stocks and derivatives, forcing issuers to verify client identity.
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