Mauritius Leaks exposes tiny tax haven's role in vast offshore system
1–10 of 41 posts
Re: Mauritius Leaks exposes tiny tax haven's role in vast offshore system
#2A lot of Indian black money (especially politicians) is somehow routed back to India via Mauritius.
Tbh i do not understand how such things work and it is anecdotal.
I do know that Mauritius has always been one of the top source of Foreign direct investment for India and i think some preferable treaties help them.
Re: Mauritius Leaks exposes tiny tax haven's role in vast offshore system
#3A lot of Indian black money (especially politicians) is somehow routed back to India via Mauritius. Tbh i do not understand how such things work and it is anecdotal. I do know that Mauritius has always been one of the top source of Foreign direct investment for India and i think some preferable treaties help them.
A quick search resulted in the following.
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The tax treaty between India and Mauritius was signed in 1982 in keeping with India's strategic interests in the Indian Ocean and India's close cultural links with Mauritius. The treaty provides for a capital gains tax exemption to a Mauritius resident on transfer of Indian securities.
Re: Mauritius Leaks exposes tiny tax haven's role in vast offshore system
#4A lot of Indian black money (especially politicians) is somehow routed back to India via Mauritius. Tbh i do not understand how such things work and it is anecdotal. I do know that Mauritius has always been one of the top source of Foreign direct investment for India and i think some preferable treaties help them.
> A lot of Indian black money (especially politicians) is somehow routed back to India via Mauritius
The black money hides amidst legitimate flows. Mauritian courts are generally well run, at least in comparison to Indian courts. (The tax code is also much simpler.)
Foreign investors into India will thus set up a Mauritian entity through which they'll invest under Mauritian law. This is similar to e.g. FDI into China often flowing through Hong Kong or investments into e.g. Wyoming routing through a Delaware entity.
Re: Mauritius Leaks exposes tiny tax haven's role in vast offshore system
#5https://qz.com/1667447/sequoia-capitals-scheme-to-use-maurit...
Another link by QZ. It highlights how Sequoia used this to its advantage in India and one of its invested companies is now under investigation for money laundering for P.Chidambaram's (former finance minister) son.
Again anecdotal and i know this is frowned in HN, but unofficial estimates put P Chidambaram's family net worth at 20k crore INR (~ 3 billion $).
Re: Mauritius Leaks exposes tiny tax haven's role in vast offshore system
#6A Mauritian passport is a useful one too: no visa required to go to EU, most of Southern Africa, Russia or China. eVisa like most others for India.
Re: Mauritius Leaks exposes tiny tax haven's role in vast offshore system
#7Mauritius also has some of the worst surf localism in the world https://www.youtube.com/watch?v=NyNv69tyXJ4
Re: Mauritius Leaks exposes tiny tax haven's role in vast offshore system
#8Mauritius also has some of the worst surf localism in the world https://www.youtube.com/watch?v=NyNv69tyXJ4
That sucks but seems irrelevant.
Re: Mauritius Leaks exposes tiny tax haven's role in vast offshore system
#9https://qz.com/1667447/sequoia-capitals-scheme-to-use-maurit... Another link by QZ. It highlights how Sequoia used this to its advantage in India and one of its invested companies is now under investigation for money laundering for P.Chidambaram's (former finance minister) son. Again anecdotal and i know this is frowned in HN, but unofficial estimates put P Chidambaram's family net worth at 20k crore INR (~ 3 billion…
If the Mauritian tax treaty is such a pain for India, then they should just get rid of it. They clearly haven't, so it must be of some value -- thus you can't shame companies for using it to legally sidestep taxes.
Re: Mauritius Leaks exposes tiny tax haven's role in vast offshore system
#10African politicians steal taxes, I am from South Africa and see the corruption first hand. Mauritius is a well run country unlike most of Africa, makes sense to use it as a base to do business in Africa