Mauritius and Nigeria Signed Agreement About Double Taxation System

The scramble for Africa as a continent where the wind of economic growth remains favorable continues to Maurice. Indeed, the country has listed Nigeria on the list of African countries with which it has signed an agreement for the tax on the return on investment is not taxable in both countries.

At a ceremony at the Maritim Hotel, Balaclava, Friday, August 10, 2012, Xavier Luc Duval and Ngozi Okonjo-Iweala, respectively Mauritian Finance Minister and Minister of Coordination and Finance of Nigeria signed an agreement in sense.

Despite its internal problems - high unemployment and difficulties to overcome poverty - Nigeria has a high potential for oil production. This country is fifth on the list of countries belonging to the Organization of Petroleum Exporting Countries (OPEC). Its size in terms of kilometers is 495.32 times that of Mauritius. Its average growth rate for the next ten years is 7.4%.Nigeria is one of those countries that provide the continent with a view to positive growth and that is the main attraction that draws investors to the country.

Ngozi Okonjo-Iweala, whose trip to Mauritius was organized by the Board of Investment (BOI), Mauritius organization responsible for promoting Mauritius as a leading investment destination in the region, was accompanied by a large delegation of 23 men business for the country. They came to exploit the possibilities of concluding bilateral partnership projects with Mauritian businessmen.

Several areas of interest. These, among others, tourism, textile, processing sector of the seafood, the manufacture of petrochemicals, pharmaceuticals and medical. Nigerians also eyeing the manufacturing of spare parts for sectors whose activities are centered around sophisticated engineering as civil aviation. On the agenda of the members of the Nigerian delegation, the operating potential of services sector in Mauritius in the legal, financial, tourism, medical and that of tertiary education.