BIZweek n°358 3 sep 2021
BIZweek n°358 3 sep 2021
  • Prix facial : gratuit

  • Parution : n°358 de 3 sep 2021

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 9

  • Taille du fichier PDF : 3,8 Mo

  • Dans ce numéro : le problème climatique.

  • Prix de vente (PDF) : gratuit

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C M Y CM MY CY CMY K billpay uni_A4.pdf 1 31/08/2021 09:45 met billpay Buy a Huawei Mate Book D15 Get 15% Discount FREE MiFi 3 Months unlimited Data Pack mauritius telecom Pey to fees liniversite avek my.t billpay ek profit bannkado ek discount 20% Discount on bil DISPONIBLE SUR, Google Play Uni Versity of Maurittus Open University e"Maurititis 11 » iscount n selection of artphones and accessories Scannez le code QR pour télécharger gratuitement Télécharger dans IF l'AppStore AppGallery Buy any 2 classic Large Pizzas at Rs 499 only Exclusivement pour les étudiants de l’Université de Maurice et de l’Open University of Mauritius. DISPONIBLE AVEC *offres valides jusqu’au 30 sept 2021. Conditions applicables
VENDREDI 03 SEPTEMBRE 2021 BIZWEEK ÉDITION 358 Figure I. Meurihue eemtribulientra Ahica North Afri. Ce:L=71re West Africa °C.te,=1 : Pune,. Inewlomlipg1.4 : V], bil1ion Source : Cop1o3E,:i Centrdl Africa BIZ ALERT CAPITAL ECONOMICS REPORT Over 4 million jobs in mainland Africa supported by Mauritian International Financial Centre A major new study launched on Monday 30 August shines a light on the millions of jobs and multibillion dollar GDP created for mainland Africa due to Mauritius’role as a leading International Financial Centre (IFC). The study argues that the Republic of Mauritius is poised to play a critical role in supporting Africa’s progress towards achieving the UN Sustainable Development Goals The new report ‘Facilitating Growth, Employment & Prosperity In Africa’has been produced by Capital Economics for the Economic Development Board of Mauritius. The key findings of the report show that: 4.2 million jobs in mainland Africa are supported by foreign investment mediated by Mauritius. These mainland jobs represent more than three times the Mauritian population and 0.6 per cent of all employment in the continent with Kenya, Nigeria, Tanzania, South Africa and Côte d’Ivoire the biggest beneficiaries. While Mauritius accounts for just 0.1 per cent of Africa’s population, its economy contributes 0.6 per cent to the continent’s GDP. 9% of all Foreign Direct Investment (FDI) into mainland Africa is mediated by Mauritius. This represents some USD $82bn which in turn generate around USD $6bn of tax revenues for African governments each year. The Mauritian financial and professional services sector employed over 15,000 people and contributed over $1.5bn, or 12 per cent of GDP, to the Mauritian economy in 2019. Mauritius ranks ahead of Canada, Ireland and the United States in terms of commitment to international standards which aim to stamp out criminal activity such as money laundering and terrorist finance. Mauritius’record on tax transparency outranks both the United States, and the United Kingdom. Access to necessary capital The report finds that an additional $350bn of private foreign investment into Africa will be required annually by 2030 to meet the UN Sustainable Development Goals, mainly in the formof corporate lending, debt securities and institutional investment into African firms. The report underlines that Mauritius will play a critical role in helping to realise the increases to prosperity, employment opportunities and quality of life needed to meet those goals, particularly as the population of Africa is expected to almost double to 2.5bn by 2050. The report finds that Mauritius supports other African countries to access the necessary capital to Mauritius stimulates economic activity and tax revenues while scope for any tax leakage is limited Up to 47 per cent of investment into Africa (excluding South Africa) has been facilitated under a Double Trade Agreement (DTA). There is a trade-off for African countries between foregoing some direct corporate tax revenue and encouraging foreign investment, which in turn stimulates economic activity and tax revenues. Assessing the impact of DTAs on FDI is not easy but there is evidence to suggest a positive relationship At least 53 per cent of investment from Mauritius into Africa (excluding South Africa) is not covered by a DTA, which means there is little or no scope for domestic taxes to be avoided by booking incomes or profits in Mauritius. The responsibility is on source countries to ensure appropriate tax is paid on activity there. Mauritius has committed to international standards which aim to stamp out criminal activity such as money laundering or terrorist financing ; it is compliant or largely compliant on 36 out of 40 recommendations to combat these threats as set out by the Financial Action LE1 en do.. 21[0000. East Africa Teinerard erre. rélmel terrt.. ur, FreaFFeFer Fer.L100 s 12 I billon 4reen., scaln.ernntraquIr. $31 amen Soulhern Africa South Africa CAPITAL ECONOMICS Facilitating Growth, Employment Prosperity In Africa Assessing the Role of Mourrtius in AfriCe$ ECtDrieri-liç CheVelOprnent Task Force, which is more than countries such as Canada, Ireland and the United States. To improve financial transparency Mauritius signedup to the United Sates’Foreign Account Tax Compliance Act in 2014 and to the Organisation of Economic Cooperation and Development’s Common Reporting Standard. Given these constraints, it is unlikely that tourism will bounce back to its pre-pandemic levels within a year or two. finance investment by reducing both the risks and costs associated with cross-border dealings. As an IFC of substance, Mauritius also benefits from being a stable democracy with a highly skilled workforce, strong legal, judicial, regulatory and governance frameworks, enabling significant levels of FDI that may otherwise be dissuaded due to concerns around stability, corruption or currency controls in developing countries. Fully compliant tax jurisdiction African countries that receive the biggest jobs benefit from investment mediated by Mauritius include Kenya where 1.6m jobs are supported, Nigeria (470,000), Tanzania (250,000), South Africa (240,000), Côte d’Ivoire (200,000) and Cameroon, Ethiopia and Ghana (120,000 jobs each). On a share of total jobs basis Kenya is also in first place (4.4%) followed by Namibia (3.6% 40m jobs) and Botswana (1.8% 20m jobs). The 4.2m jobs supported create around $30bn in additional GDP spending power for people in mainland African economies. The report also confirms previous OECD findings that Mauritius is a fully compliant tax jurisdiction in terms of best practice international standards, is as transparent on tax issues as France and is more compliant than both the United States and the United Kingdom. It found that Mauritius ranked in 1st place of all African countries in the World Bank Doing Business 2020 survey (13th out of 190 globally), the World Economic Forum Global Competitiveness Index 2019 (54 out of 140 globally), and the Mo Ibrahim Index of African Governance 2020. 3

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