The Ministry of Financial Services and Good Governance introduced its first edition of its monthly newsletter
The launch of this newsletter is a major step for the Ministry to stay in touch with its different stakeholders, get their feedback and share concerns on issues of mutual interest. The newsletter consists of many interesting articles and inserts.
Interview with Honourable Dharmendar Sesungkur
An interview with Honourable Dharmendar Sesungkur, Minister of Financial Services and Good Governance since January 2017, gives insight regarding the Government’s ambition to make Mauritius a world class International Financial Centre. In the interview Honourable Dharmendar Sesungkur drives the point that Mauritius is not a “tax haven” and proves the point through the fact that Mauritius has been assessed by different organizations as being compliant with international norms and standards.
New Regime for Global Business
The GBC2 regime will be abolished to enable Mauritius to meet its commitment as a member of the BEPS Inclusive Framework to bring necessary tax reforms so as to comply with the FHTP standards. This abolishment will be effective from 1 January 2019, when the FSC will stop issuing Category 2 Global Business Licences. GBL2 issued after 16 October 2017 will expire on 31 December 2018. However, the Financial Services Act has been amended to provide grandfathering provisions for existing GBC2 before 16 October 2017. The latter will continue to benefit from the current regulatory regime until 30 June 2021. The GBC2 may apply for a Global Business Licence or an Authorised Company (AC) licence or alternatively wind-up.
For any question regarding your Global Business Company, please contact us.
Other topics that is discussed in the newsletter
- MOU with OECD to enhance cooperation on regulation
- Mauritius refutes High Risk allegations
- Mauritius refutes High Risk allegations
- Mauritius seeks assistance from IMF
- Mauritius remains top source of India’s FDI for 2017-2018
- Stock Market in A Snapshot
- Information regarding investment products
- Trade War not confined to China and United States
Please click HERE to read the newsletter.
Source: FinanceInFocus Issue 1
Photo by G. Crescoli on Unsplash
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