The Government of Jersey has signed a Double Tax Agreement (DTA) with the Republic of Mauritius.
The agreement was signed in London today, for Jersey by Senator Sir Philip Bailhache, Minister for External Relations, and for the Republic of Mauritius by High Commissioner Girish Nunkoo.
Senator Sir Philip Bailhache said: “I am delighted to have signed this DTA with the Republic of Mauritius. We attach considerable importance to the DTA in support of our existing business links with Mauritius and as part of our general policy of developing business relationships with Africa.”
This is the 13th full DTA signed by Jersey that complies with the OECD Model Agreement. The others are with Cyprus, Guernsey, Estonia, Hong Kong China, Isle of Man, Luxembourg, Malta, Qatar, Rwanda, Seychelles, Singapore and the United Arab Emirates.
Along with the DTA signing, steps have been taken to include the Stock Exchange of Mauritius in the list of approved exchanges set out in specific Exemption Orders made under the Companies Law.
Under the Exemption Order, Jersey companies listed on an ‘approved stock exchange’ are exempt from having to deliver a written instrument of transfer of shares to the company in order for the transfer to be registered, and from the requirement on the company to produce a share certificate within two months.
The DTA provides for the avoidance of double taxation in respect of corporate and personal incomes including business profits, dividends, interest, royalties, income from employment and pensions.
It also provides for the exchange of information on request equivalent to that provided for in the Tax Information Exchange Agreements Jersey has signed.
Pictured: Senator Sir Philip Bailhache (left) and Mauritius High Commissioner Girish Nunkoo