FT.com / Asia-Pacific / India - China makes foray into Mauritius .
As the FT notes:
China’s state-led approach to foreign investment is muscling India aside in its traditional “backyard” by investing $700m in a special economic zone in the Indian Ocean island of Mauritius to service Beijing's expansion in Africa.
Ramakrishna Sithanen, the vice prime minister of Mauritius and minister of finance, said China was “extremely aggressively” pursuing its objectives in Africa via Mauritius with a wave of strategic investments on the island.
Let's put this another way - the use of Mauritius as a quite abusive tax haven continues. That's the real truth here.
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Mauritius has an income tax rate of 15%, how can this country be tagged as a taxhaven??
Go and compare cayman, bvi as tax haven NOT mauritius.
@Peter Hall
It could be 80% and be irrelevant
A tax haven (or secrecy jurisdiction) is measured by its treatment of foreign source income
Secrecy jurisdictions are places that intentionally create regulation for the primary benefit and use of those not resident in their geographical domain. That regulation is designed to undermine the legislation or regulation of another jurisdiction. To facilitate its use secrecy jurisdictions also create a deliberate, legally backed veil of secrecy that ensures that those from outside the jurisdiction making use of its regulation cannot be identified to be doing so.
It is a tax haven
Tax rates simply don’t count if they don’t apply
Richard,
if you would research the Chinese strategical intentions of how they are trying to decrease the influence of India in countries like Myanmar, Maldives, Seychelles, and by building military bases to surround India in several countries (have a look at the following article: http://www.telegraphindia.com/1090820/jsp/frontpage/story_11385890.jsp) then you would surely agree that the Chinese investment has nothing to do with taxation at all. And, of course, regulation has also nothing to do with what the FT.com wrote about. Sorry, but not everything happening in the so-called secrecy jurisdictions fits into your agenda.
@Lawrence Klein
Lawrenece
Poppycock
Even the Chinese exploit double tax treaties
Do you think we’re stupid when you write stuff like that?
Richard
Strange , the Mauritian tax system and the training of all their inland revenue equivalent staff was overseen and funded as overseas aid by UK through the ODA in the eighties, My father was seconded to do this from the UK civil service. They still have a lot of help from the inland revenue on tax collection so I don’t think we can really paint them as evil when they are a former colony who have been helped along on tax issues by their former masters …