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Special Report on

Mauritius not tax haven

mauritius not tax haven special research report Photo by stephenchua.com
New Delhi, July 14 (IANS) The government is not considering a fresh disclosure scheme for unearthing hidden wealth even as talks are underway with Mauritius to ensure Indians are not able to park their ill-gotten wealth in the island nation, parliament was informed Tuesday. “A committee was set up in 2004 and has made some recommendations but I am not enamoured with another disclosure scheme,” Finance Minister Pranab Mukherjee said during question hour in the Rajya Sabha. “Various schemes have been introduced since the 1950s. I myself piloted a voluntary disclosure scheme. However, we have been receiving ...
Individuals and/or corporate entities can find it attractive to move themselves to areas with reduced or nil taxation levels. This creates a situation of tax competition among governments. Different jurisdictions tend to be havens for different types of taxes, and for different categories of people and/or companies. There are several definitions of tax havens. The Economist has tentatively adopted the description by Geoffrey Colin Powell (former economic adviser to Jersey ): "What ... identifies an area as a tax haven is the existence of a composite tax structure established deliberately to take advantage of, and exploit, a ...
REVIEWS AND OPINIONS
Institute for Policy Studies: Main Street Businesses Take On ...
How is it possible that the Ula Café and City Feed & Supply pay a higher percentage of their income in taxes than profitable Wall Street firms and Fortune 500 companies? Multinational corporations—but not mom-and-pop businesses—are able to make use of overseas tax havens to avoid paying their fair share. Tired of picking up the slack, small businesses are coming together to demand a level playing field. A new campaign, Business and Investors Against Tax Haven Abuse , is the result of an interesting convergence of domestic manufacturers, community banks, and small businesses that are fed up with how porous the ... market research, surveys and trends
Germany's approval required to share black money details with ED
India has asked Germany to allow it to share information on black money, allegedly stashed by 18 Indians in LGT Bank, with the Enforcement Directorate that investigates violations of foreign exchange norms. Germany had helped India last year in unearthing Rs 44 crore in untaxed money, stashed by these 18 Indians, in LGT Bank in the European tax haven of Liechtenstein. Penalty proceedings were initiated against these people and a total tax demand of Rs 24 crore has been raised against them. However, India needs Germany’s clearance to further share the information provided by that country, with the Directorate of Enforcement ... market research, surveys and trends

SURVEY RESULTS FOR
MAURITIUS NOT TAX HAVEN

Mauritius not tax haven: Vice Prime Minister (Lead)
New Delhi, Jan 19 (IANS) Mauritius should not be singled out by India in its attempt to curb tax avoidance as the African nation’s image as a financial haven is ill-placed, according to its visiting Vice Prime Minister Ramakrishna Sithanen. “Mauritius is definitely not a tax haven,” Sithanen, who holds the portfolios of finance and economic empowerment, told a business roundtable to forge trade and economic ties with India. “Financial services form just 12.5 percent of our gross domestic product,” he said, also seeking to dispel the notion that his country’s tax holiday policies were being ... industry trends, business articles and survey research
EUROPE: No Qualms Funding Tax Haven-Tainted Banks - IPS ipsnews.net
BRUSSELS, Dec 11, 2009 (IPS) - Although the links between tax evasion and global poverty are officially recognised, the European Investment Bank, the lending arm of the European Union (EU), has no qualms financing banks known to stash away money in tax havens. Throughout 2009 statements issued by the EU�s most powerful bodies acknowledged a scourge estimated to reduce by 160 billion dollars a year the amount of revenue which poor countries can collect. While these statements suggest that the EU is doing everything it can to crackdown on the scourge, the EIB has, since 2004, provided loans worth more than 5.6 billion euros (8.2 ... industry trends, business articles and survey research
RELATED NEWS
India seeks Germany's nod to share black money info with ED
NEW DELHI: India has asked Germany to allow it to share information on black money, allegedly stashed by 18 Indians in LGT Bank, with the Enforcement Directorate that investigates violations of foreign exchange norms. Germany had helped India last year in unearthing Rs 44 crore in untaxed money, stashed by these 18 Indians, in LGT Bank in the European tax haven of Liechtenstein. Penalty proceedings were initiated against these people and a total tax demand of Rs 24 crore has been raised against them. However, India needs Germany's clearance to further share the information provided by that country, with the Directorate of ... market trends, news research and surveys resources
Mauritius: Treasure Islands - Mapping the Geography of Corruption
When is a tax haven not a tax haven? When Mauritius' Vice Prime Minister Ramakrishna Sithanen says so. 'We are a not a tax haven,' stated Sithanen, who is also the country's minister of finance. Ironically, Sithanen would go on to reveal that ring-fenced financial services (FS) - the legal and financial secrecy vehicles facilitating corporate mispricing and corruption marketed to foreign clients, especially India - accounts for 12.5 per cent of GDP. Mauritius is already India's largest single source foreign investor at US$39 billion, almost half of total investment flows. The beautiful tourist island of ... market trends, news research and surveys resources

INFORMATION RESOURCES

progress report - Exchange of tax information
Apr 2, 2009 ... Mauritius. Mexico. Netherlands. New Zealand ... Jurisdictions that have not committed to the internationally agreed tax standard ... in 2000 as meeting the tax haven criteria as described in the 1998 OECD report. ... technology research, surveys study and trend statistics
GAO-09-157 International Taxation: Large U.S. Corporations and ...
have no or nominal taxes and are sometimes referred to as tax havens. In ..... Mauritius. X. Page 12. GAO-09-157 U.S. Corporations with Foreign Subsidiaries ... technology research, surveys study and trend statistics
NO ACCOUNTING FOR TAX HAVENS
nominee companies in tax havens. In tax havens, banks which are no more than ..... Mauritius, Netherlands Antilles, Seychelles and the British Virgin ...
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MAURITIUS NOT TAX HAVEN
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QUESTIONS AND ANSWERS
Tax "Haven" or Low Tax Countries?
As we grow with the program, we're realizing we can setup in just about anywhere in the world. I'm wondering about the Cayman Islands or Switzerland in particular. But I'm curious: has anyone here moved to a tax haven or a lower tax country? If so, what if any challenges have you faced? >> Is there anyone here residing/working in Muscat, Oman, Bahrain or Qatar? I would never even consider to live in such countries. Can't get into specifics as this will turn political /religious, but it has to do with "blasphemy," drinking, vice and all. As US citizens, I think we are stuck paying taxes no matter where we ...
WikiAnswers - Double Tax Avoidance Agreement treaty DAAT
The reason for Mauritius being the source of highest investments in India is Double Tax Avoidance Agreement treaty (DAAT) signed by both the countries in 1983. Before moving ahead I would like to first explain what double taxation is with an example. When a corporate pays dividends to its shareholders, the shareholders need to pay income tax on the earnings made from these dividends. But what happens is the tax is already paid on corporate earnings, on which dividends are paid. Hence double taxation: one on shareholder level and other on corporate level. Now what is DAAT? This treaty was signed between the two countries so as to ...