International Taxation and Foreign Tax Credit

Appavoo Business School

L.Clensy Appavoo

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OBJECTIVES/LEARNING OUTCOMES

• To understand the rules for taxation of Income in Mauritius
• Interpretation of Double Tax Treaties
• To understand the rules for claiming credit for Foreign Taxes

PROFILE OF PARTICIPANTS

• Company Financial Controllers
• Accountants working in full-time practice
• Tax Consultants
• Accounting Staff in the Global Business sector

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The course entitles Employers to claim up to 75% from HRDC.

More than 5 pax, get 10% discount

REGISTER NOW  Course Content

L. Clensy Appavoo

Chief Executive Officer & Senior Partner

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Mauritius offers a Premium VISA as a COVID-Safe destination

HLB RISK & COMPLIANCE CONSULTANCY LTD

January 8, 2021

ONE-YEAR PREMIUM VISA

The One-Year Premium Visa is a new visa being issued by Mauritius since the end of 2020 to encourage foreign nationals to come for a long stay as a tourist, retiree or a professional willing to come with his/her family and carry out his business or work remotely from Mauritius, in a COVID-safe destination.
It allows a non-citizen to stay in Mauritius for a period of one year, renewable.

The visa must be applied on-line and it is FREE of charge
Applications are processed and a reply is obtained within 48 hours

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CRITERIA FOR PREMIUM VISA

The following criteria should be met to obtain the Visa::

  1. Any citizen from the list of 114 countries contained in the Annex are eligible to apply for the visa
  2. Applicant should not enter the Mauritius labour market.
  3. The main place of business and/or source of income and profits should be outside Mauritius;
  4. Documentary evidence to support application such as purpose of visit, accommodation etc;
  5. Other basic immigration requirements.

DOCUMENTATION NEEDED TO SUPPORT AN APPLICATIO0N FOR THE VISA

  1. Personal curriculum vitea
  2. Valid passport
  3. Copy of air ticket (including return ticket)
  4. A passport size photo
  5. A valid email address
  6. Travel and health insurance for the period of stay
  7. Proof of funds (bank statement or bank attestation) to meet the cost of stay in Mauritius
    (minimum monthly transfer of USD 1500/EUR 1300 as per exchange rate applicable)
  8. Pre-booking for accommodation (Quarantine which has a duration of 14 days and post-Quarantine) is made prior to the date of travel.
  9. A certificate of a negative COVID – 19 PCR test administered not more than 7 days prior to the date of boarding at the last point of embarkation.
  10. Adherence to health protocols in Mauritius

HEALTH PROTOCOLS

  • Any arriving passenger will have to undergo PCR tests on day of arrival, day 7 and day 14 following arrival: and
  • If a PCR test reveals that a person is COVID-19 positive, he/she shall be transferred to a public medical institution for treatment.

Easy steps to get your Premium Visa

Premium Visa Brochure (English)

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The FAFT Plenary Session 21-23 October and the Status of Mauritius

by Kaminee Busawah

October 26, 2020

The 3rd Financial Action Task Force Plenary Session which took place from the 21st to 23rd October 2020 discussed   the following agenda:

  1. Strategic Initiatives

  • ML/TF Risks and FATF Policy Responses to COVID-19 since May 2020
  • Strengthening the Global Network
  1. Country-specific processes

  • Impact of COVID-19 on FATF Mutual Evaluation and Follow-up Processes
  • Impact of COVID-19 on FATF Processes to Monitor Jurisdictions Under Increased Monitoring
  • Jurisdictions under Increased Monitoring
  • Jurisdictions No Longer under Increased Monitoring
  1. Other Strategic Initiatives

  • Strengthening Measures to Prevent the Financing of Proliferation of Weapons of Mass Destruction
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Undoubtedly, the most awaited item for the Mauritian population and in particular operators in the Mauritian IFC was the outcome pertaining to the listing of Jurisdictions which was announced to be as follows:

Jurisdictions with strategic deficiencies and subject to increased monitoring

Albania
The Bahamas
Barbados
Botswana
Cambodia
Ghana
Jamaica
Mauritius
Myanmar
Nicaragua
Pakistan
Panama
Syria
Uganda
Yemen
Zimbabwe

Jurisdictions no longer subject to increased monitoring

Iceland
Mongolia

The Status of Mauritius

The encouraging part, although Mauritius is still in the increased monitoring list,  is that the FATF has acknowledged and highlighted that Mauritius has been committed to work with the FATF and the ESAAMLG since February 2020 with a view to strengthening the effectiveness of its AML/CFT regime. The FAFT pointed out that Mauritius has taken remarkable steps towards improving its AML/CFT regime, including the development of a risk-based supervision plan for the global business and management companies. The FATF concluded that Mauritius should continue to work on implementing its action plan to address its strategic deficiencies, including by:

  • implementing the risk-based supervision plan effectively for The Financial Services Commission and focusing on different stages of outreach across Designated Non-Financial Businesses & Professions supervisors;
  • ensuring the access to accurate basic and beneficial ownership information by competent authorities in a timely manner;
  • demonstrating that law enforcement has capacity to conduct money laundering investigations, including parallel financial investigations and complex cases;
  • implementing a risk-based approach for supervision of its NPO sector to prevent abuse for TF purposes, and
  • demonstrating the adequate implementation of targeted financial sanctions through outreach and supervision

There is great expectation that Mauritius will be removed from the ‘Increased Monitoring List’ of the FATF in the first quarter of 2021.

Kaminee Busawah

Managing Director- Risk & Compliance

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Budget Highlight 2020

HLB Mauritius is pleased to share its comments on the budget speech 2020 which was delivered by Minister of Finance on Thursday 4 June 2020.

by HLB Mauritius

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The Minister of Finance, Economic Planning & Development, Dr Renganaden Padayachy, has delivered his maiden Budget Speech on 4 June 2020 for the forthcoming fiscal year 2020-21.

HLB MAURITIUS is pleased to provide you with the foregoing ‘Budget Brief 2020’ which highlights the major forecast changes in the business environment, the fiscal landscape and some specific sectors of the economy of Mauritius.

 

Download Mauritius_Budget-brief 2020

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WORKER’S RIGHT ACT 2019

Appavoo Business School LTD

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Course Title:
Workers’ Rights Act 2019 : A review from a Human Resource Management perspective

Duration- (hours/day): 6Hrs
Theory: Yes   Practical: Yes
Cost per participant:  Mur 9,500

Objectives/Learning Outcomes:

At the end of the course, participants are expected to acquire a firm grasp of the mechanism of the Workers’ Rights Act 2019 with particular emphasis to provisions dealing with day to day Human Resource Management of an enterprise.  Starting with the requirements from recruitment level, the course delve into the essentials of conflict management, the numerous problems at work , remuneration rules down to disciplinary actions.

Profile of Participants:           

  • Human Resource Managers
  • Senior Managers
  • Management Executives
  • Entrepreneurs

 

 

Detailed Course Contents:

-General Working Conditions (Flextime, Overtimes, Rest Period, Allowances, Leaves)
-Maintenance of Records and Registers
-Penalties for Non-Compliance with the Workers’ Rights Act 2019
-Employment categories (Determinate, Part-time, Full-time)
-Dealing with Recruitment, Interviews, Appointments and Promotions
-Statutory Obligations of Filing with relevant Authorities and applicable penalties
-Conflict management
-Management of Violence and Harassment at Work
-Holding and Handling Disciplinary Procedures
-Computation of  of Severance Allowances
-Reduction of Workforce and laying off

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Mastering Customer Due Diligence and KYC across the Financial Sector

Appavoo Business School LTD

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Course Title:
Mastering Customer Due Diligence and KYC across the Financial Sector

 

Duration- (hours/day): 4Hrs
Theory: Yes     Practical: Yes
Cost per participant:  Mur 11,500

Objectives/Learning Outcomes:

  • At the end of the course, participants are expected to have a sound understanding of;
  • The importance of Customer Due Diligence “CDD”
  • The legal and regulatory obligations regarding CDD/KYC
  • The importance of record keeping
  • Compliance of CDD/KYC obligation as a risk based approach
  • Development of internal system for efficient CDD/KYC

Profile of Participants:           

  • Corporate Administrators
  • Operations Personnel
  • On Boarding Team in Financial Institutions
  • Compliance Officers and MLRO’s
  • Team Leaders in Financial Sectors including Banks, Accounting firms

Detailed Course Contents:

  • What is CDD and KYC
  • Importance of CDD/KYC
  • CDD Checklist
  • Client Identification/ verification Measures during on-boarding
  • Enhanced Due Diligence Measures
  • Identification and dealing with Politically Exposed Persons (PEPs)
  • Simplified or reduced due diligence measures
  • Continuous Monitoring and record keeping
  • The legal and regulatory obligations as per the Mauritian Law and Regulations

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