The Budget 2012 generally welcomed by the entire private sector, was commented on by several speakers during the first post-budget breakfast, Saturday, Nov. 5. The event was jointly organized by the Mauritius Institute of Professional Accountants and the Association of Chartered and Certified Accountants.
Pierre Dinan, Clensy Appavou, the President of the Mauritius Employers Federation (MEF) and Willian Chung, an associate of the firm Kemp Chatteris Deloitte, have all expressed optimism after the presentation of the first budget of Xavier-Luc Duval, the Friday, November 4.
The first speaker, Pierre Dinan was responsible for analyzing the overall philosophy of the 2012 Budget. After a brief comparison of economic indicators for 2011 and 2012, the economist who is also a certified public accountant, holds that it is now the business community and the country as a whole to respond positively to the 2012 Budget.
" The ball is placed intelligently in our camp, " is it out before an audience consisting mainly of private sector executives.
The presentation of the financial projection of the state for the coming year was, he said, "a daring "of the government. A bet on an economic growth of 4% for 2012. "If the growth is there, things will go well. But if the forecasts do not materialize, we will certainly find it difficult to fund it , "says Pierre Dinan.
But the economist has not elaborated on this scenario. He at once, caught the ball on the assumption that it is certainly not a bad thing "to dream." He noted, for this purpose, the numerous measures taken to promote an economic environment conducive to business . "Numerous measures have been taken. We now need positive feedback to achieve the 4% growth , "insists Pierre Dinan.
William Chung, the tax expert of Kemp Chatteris Delliotte, it has been very enthusiastic about alleviating the burden on businesses. He welcomed the abolition of the solidarity tax on interest and dividends, as well as that of the Capital Gain Tax seen as a disincentive to investment. The discharge of the accounting requirements for SMEs is also welcomed as a positive step.
The speaker, however, amused by the removal of Value Added Tax (VAT) on cosmetic surgery and excise duty on cosmetics such as perfumes, eau de toilette and deodorants.
"Given our increased problems of lack of water to wash, it could be a very good minister's decision," he quips. It is also a tone of irony that he said the increase in excise duties on alcohol.