Mauritius Prime Minister, Dr Navin Ramgoolam and newly appointed Indian Prime Minister, Shri Narendra Modi, on May 28, announced “new economic cooperation projects between the two countries and new arrangements regarding the Double Taxation Avoidance Treaty,” according to a press release issued by Ramgoolam.
Ramgoolam said that India and Mauritius will set up a special unit which will be responsible for a systematic exchange of financial information. Mauritius will also automatically transfer to the Indian authorities all data on entities registering in the country that seek to invest in India.
Mauritius will also “initiate measures to enhance the substance of companies wishing to engage in the financial sector of Mauritius. Thus, Mauritius will ensure that the three well-defined criteria, namely, business purpose of the entity wishing to register in Mauritius, its commercial value. and its economic substance, are respected,” said Ramgoolam.
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