Mauritius | Finances

September 13, 2013

Nikhil Treebhoohun (Global Finance Mauritius): "The Protracted Negotiations Cause Huge Collateral Damage"

The extended agreement double tax negotiations are neither advantage nor Maurice of India, said yesterday the Executive Director of Global Finance Mauritius (GFM), Nikhil Treebhoohun at the launching ceremony magazine and website of the association of operators engaged in global finance in Mauritius.

The deadline for the conclusion of negotiations maintains uncertainties and can cause huge collateral damage , he argued . The magazine was to be launched by the VPM and Finance Minister Xavier -Luc Duval, but he could not make the trip due to his commitments.The Executive Director of GFM hoped that the Indo- Mauritian negotiations lead to a solution as soon as possible .
"There have been two rounds since February 2012 and contrary to repeated Indian Finance Minister statements , Mauritius has made proposals to India both on exchanges of information and inclusion of the limitation of benefits clause in the agreement , "said Nikhil Treebhoohun .
He observed that the signals sent by the market indicate that investor confidence has not been restored in the Indian economy after attempts to introduce the GAAR with retroactive last year.
The rate of the Indian rupee continues to depreciate and from 50 rupees to the dollar 65 Indian rupees to the dollar. Nikhil Treebhoohun noted that while India was going through a traumatic economic situation in 1990 , the Treaty of double taxation has helped to revive the economy by providing a path respected institutional investors to obtain the funds they need.The Director of GFM notes that progress has been made in negotiations between the two countries. " We Understand better the Concerns of India about the treaty abuse and round trippin . Purpose for us it is clear That there are some key items That give substance to the treaty .
If thesis are tweaked , the question about the relevance of the treaty Itself May Be Abebooks web sites , "says Nikhil Treebhoohun . He recalled that the GFM has hired an advertising agency to deal with the Indian press . With the help of the BOI and the FSC, the Mauritian position has been communicated to the Indian press . From February this year, the BOI has taken the baton in terms of communication in India and GFM will support .The Executive Director of GFM also mentioned the Mauritius strategy for greater involvement in Africa. Since last September , Mozambique , Zambia , Malawi, Seychelles and Mauritius are working together in this direction.
Arrangements have been made to develop a MOU on the movement of business people between these countries. The Commonwealth Secretariat has been approached to fund a study on financial services exports in Africa. For its part, the government has sought assistance from the Commonwealth Secretariat to develop an African strategy . Both will be made ??jointly . The first working session was held last week with the consultants. Mauritian authorities expect to have a better indication about the demand for specific products in various African countries .
The GFM also welcomes the reactivation of the Financial Services Advisory Council , chaired by the Minister of Finance and VPM . "It can be a very useful channel for communication between the government and the financial services industry .

Text by Le Mauricien
 

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