The GIIF Launches Campaign Upgrading The Mauritian Financial Services Sector

It's never too late to do. It is an adage that can be easily applied to the approach that is being undertaken the Global Institutional Investors Forum (GIIF). This is to defend the reputation of Mauritius with the financial services industry is incorrectly associated to the specific regime of a territory where the tax evaders are received with open arms. The message GIIF wants to convey both in Mauritius and abroad is: Mauritius is not a tax haven.

This initiative comes at a time when India, one of the most faithful partners of Mauritius, is the starting point harshest criticism ever leveled against the reputation of the financial services sector in Mauritius. Yet, for over twenty years, both countries agreed to conclude an agreement whereby they have agreed to remove the regime of double taxation of investors.Clearly, an investor who has honored its obligations in terms of tax at one, will not be disturbed in the other for the same reason.

It is only now that Mauritius begin to think that the time has come to fill its deficit in communication especially in India.Initially, Arvin Boolell, Minister of Foreign Affairs, was given the mission to visit India in order to cushion the effects of the anti-Mauritian financial services sector. Xavier-Luc Duval, Minister of Finance, will use its presence in the Great Peninsula as part of the Indo-Mauritian Joint Meeting in July to strengthen this campaign.

As for the GIIF is a newcomer because it was created in October 2010. This is a Trust which, above all, wants to be a forum for the combined skills can contribute positively to place Maurice on the list of global destinations in reliable financial services.

Members of the Mauritian press were the first to be invited to further knowledge, not with an area / shelter tax evaders but a real financial services that meet the criteria established by the watchdog in this area '' What the Organization for Economic Cooperation and Development (OECD). It was Thursday, June 21, 2012 at the headquarters of GIIF, Ebony exchange during a meeting with Nikhil Treebhoohun, Chief Executive Officer of GIIF, Richard Arlove, Chief Executive Officer of Corporate Services and Abax Nagarajan Sridhar, Chief Executive Officer to Standard Chartered Bank.

Among the OECD criteria defining a territory called tax haven, there is another between the existence of a regime where the level of taxes is insignificant or nonexistent, the lack of transparency in the tax system, lack of exchange of tax information with other states.

Files, documentation, supporting statistics, Nikhil Treebhoohun, Chief Executive Officer or the GIIF Arlove Richard, Chief Executive Officer Corporate Services Abax exhibited strong arguments to show that Mauritius has indeed a sector financial services based on criteria established by the OECD.

"We need to increase services with high added value," says Richard Arlove. He wants the proliferation of agreements on investment protection and the elimination of double taxation regime, the broadening of our melting pot of qualified professionals, improving our infrastructure, development of air connectivity and capacity especially the campaign to promote the merits of our financial services sector.

Nikhil Treebhoohun says perplexed about the motives for the reputation of the financial services sector in Mauritius. He has already taken the measure of the anti-Mauritian financial services sector in India will be returning in the same country with the main objective of removing the caricature which the Mauritian financial services sector has been decked out in Great Peninsula.