Mauritius Welcomes Removal From Italy's Black List
by Ulrika Lomas, Lowtax.net, Brussels
17 April, 2015
Following the entry into force of Italy's Stability Law 2015 and the signing of a tax information exchange agreement, Mauritius has been removed from Italy's tax transparency black list.
Specifically, the change will allow Italians to deduct expenses incurred in transactions with residents in Mauritius.
Mauritius's Minister of Finance and Economic Development, Vishnu Lutchmeenaraidoo, said the decision "bears testimony to Mauritius being a transparent financial center of good repute." He further stressed that Mauritius has also taken several measures to strengthen transparency in the jurisdiction.
"This development," Lutchmeenaraidoo pointed out, "will enable Mauritius to consider new opportunities for trade and investment with Italy. Mauritian exports to Italy may now onwards benefit from a more favorable tax system hence making it more competitive." He added that more Italian investors as well as enterprises are expected to invest in Mauritius owing to the newly available tax benefits.
See all of today's news