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AfricaMoney | June 27, 2017

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Mauritius and Austria sign Tax Information Exchange Agreement for investment boost

Mauritius and Austria sign Tax Information Exchange Agreement for investment boost

Brigitte Oppinger-Walchshofer, the Austrian Ambassador to Mauritius, believes that this Tax Information Exchange Agreement (TIEA) will promote the relations between the two countries from an economic and cultural perspective. (Image: www.vebidoo.de)

Mauritius and Austria have signed a Tax Information Exchange Agreement (TIEA) with the objective of fostering prospects for investment and boosting business between the two countries.

Brigitte Oppinger-Walchshofer, Austrian ambassador currently on an official visit to Mauritius, and Mauritian Finance Minister Vishnu Lutchmeenaraidoo, signed the agreement to strengthen the economic relations between the two nations.

“There is great potential for exchange of business based on already strong relations with Austria which are now getting stronger. The TIEA is our commitment towards transparency and we have signed Double Taxation Avoidance Agreements (DTAAs) with 46 countries up to now. We have also signed forty Investment Promotion and Protection agreements (IPPAs) and now, Mrs Oppinger has signed the tenth Tax Information Exchange Agreement,” stated the Minister of Finance.

Moreover, he added that there have been a lot of misconceptions around the offshore sector in Mauritius, based on a certain degree of obscurity over the Tax Haven concept, which, at the end of the day, has adversely impacted offshore service centres.

As for the Austrian Ambassador, she believes that this agreement will promote the relations between the two countries from an economic and cultural perspective.

“We hope to increase the number of tourists getting into Mauritius as soon as we establish a direct air link. The first flight is going be launched on the 29th of October, which will be twice weekly and we expect that these direct flights can get more tourists to come to Mauritius from neighbouring countries like Czech Republic, Slovakia and Hungary,” said the Austrian Ambassador.

“We also hope fervently to work close together in the future as I think there are substantial business prospects between the two countries, making the agreement necessary,” concluded Brigitte Oppinger-Walchshofer.

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