Discours du ministre des Services Financiers lors du lancement du Tax Series 2023

Ladies and Gentlemen,A very good morning to all of you.

I would wish to start by conveying warm wishes for the year to all of you.

In fact, we closed 2022 on high notes of Confidence and Positivity learning to build back stronger and more resilient from a sanitary crisis.

Indeed, a pandemic like no other is leading to a recovery like no other.

I have every hope that we have entered a new year of Optimism and Opportunity for all.

So, it is an honour for me to be here among you and start the year with the launch of a Tax Literacy Series.

This initiative brings together the Financial Services Institute from my Ministry and Andersen (Mauritius) in a Public-Private collaboration aimed at enhancing the Understanding, Practical Application and Compliance of relevant local and international laws relating to taxation.

I believe this Public-Private proposition with its year-long calendar of literacy events is the first of its kind aimed at minimising tax complexity and raising the level of taxpayer awareness and compliance.

To maintain our good standing with international standard setters such as the OECD and the EU, it is our duty to inculcate such a culture of adherence to local and international tax laws that puts us at par with other established and reputed IFCs.

Amidst the committed efforts of this Government to minimise tax evasion and avoidance, I find the need for specialist training in the field of taxation as important as training in AML/CFT, fund management or wealth management, and I welcome this Tax Series as a new chapter in our Training Calendar.

I feel comforted, Ladies and Gentlemen, by the very good turnout this morning which demonstrates your keen interest in this initiative.

One of the priority areas for the Financial Services Sector this year is talent development to ensure that we have the skills required to meet the needs of the future.

I am a strong advocate of continuous learning and believe in financial education as central to overall economic prosperity.

We are putting in place a suite of courses and training programmes aimed at building on the strengths of our people.

Ultimately, Ladies and Gentlemen, such education campaigns will help forge the Compliance Culture and Attitude we want to see in our people.

This training is a must for all organisations which shoulder the responsibility of advising their clients on tax planning and administration.

Ladies and Gentlemen

Mauritius has a very generous double taxation relief system where foreign tax credits are not subject to a limitation and can be offset against other taxable foreign income.

Our country has concluded tax treaties with 45 countries, and is party to a series of treaties under negotiation.

It is imperative for our operators to master this aspect of taxation to better advise and attract foreign investors.

The Tax Series 2023 aims to demystify complex issues in our tax administration system and will provide invaluable insights from the perspectives of the Regulator as well as Tax experts.

Every international financial centre needs a strong team of tax professionals and advisors, who master the tax administration system and hold the expertise in navigating the tax administration system for and on behalf of clients and investors.

My Ministry aims to consolidate the competitiveness of our International Financial Centre through the introduction of capacity building programmes like the one you are about to attend today, and through the rest of the tax series.

Distinguished Guests, Ladies and Gentlemen,

I take the opportunity to thank the organisers of this Tax Series for a successful collaboration and I thank, in particular, Mr Ben Lim and Mr Fazeel Soyfoo for taking time amidst their busy schedules to share their experience setting the stage for more meaningful and impactful societal change and economic development.

It is my earnest wish to see this Tax Series become a recurring feature of the national training calendar.

I also take the opportunity to commend the Mauritius Revenue Authority for their laudable efforts in modernising the country’s tax administration system.

Mauritius stands proud with a modern and responsive tax authority.

I would like to mention new initiatives introduced by the Authority to bolster business facilitation and foreign investment.

The efforts of the MRA over the years have resulted in the remarkable score achieved by Mauritius, which has jumped to the 5th position in the World Bank’s Ease of Paying Taxes Index.

We should not forget the instrumental role played by the MRA by stepping in the shoes of employers allowing their workforce to continue to earn their living through the Wage Assistance Schemes.

Yesterday itself I chaired the first meeting of the Financial Services Consultative Council of the year where among the many discussions, stakeholders have underscored the proactiveness of the MRA including its responsiveness to the various commitments provided by Mauritius to organisations such as the OECD.

I also take the occasion to also thank the Mauritius Finance for being a trusted and reliable voice of the association and continued support in such initiatives aimed at the benefit of its members.

On this note, Ladies and Gentlemen, I am pleased to launch the inaugural session of the Tax Series 2023.

I wish you a productive Year 2023 and I thank you all for your presence and kind attention this morning.