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Financial services

According to the Financial Services Commission, financial and insurance activities contributed to 11.1% of the country's GDP in 2018. Over the years, Mauritius has been positioning itself as the preferred hub for investment into Africa due its strategic location between Asia and Africa, hybrid regulatory framework, ease of doing business, investment protection treaties, non-double taxation treaties, highly qualified and multilingual workforce, political stability, low crime rate coupled with modern infrastructure and connectivity. It is home to a number of international banks, legal firms, corporate services, investment funds and private equity funds. Financial products and services include private banking, global business, insurance and reinsurance, limited companies, protected cell companies, trust and foundation, investment banking, global headquarter administration.

Corporate tax rate ranges from 15% to 17% and individual tax rate ranges from 10% to 25%. While the country also offers incentives such as tax holidays and exemptions in some specific sectors to boost its competitiveness, the country is often tagged as a tax haven by the press due to individuals and companies who engaged in abusive practices in its financial sector. The country has built up a solid reputation by making use of best practices and adopting a strong legal and regulatory framework to demonstrate its compliance with international demands for greater transparency. In June 2015, Mauritius adhered to the multilateral Convention on Mutual Administrative Assistance in Tax Matters, and has an exchange information mechanism with 127 jurisdictions. Mauritius is a founding member of the Eastern and Southern Africa Anti Money Laundering Group and has been at the forefront in the fight against money laundering and other forms of financial crime. The country has adopted exchange of information on an automatic basis under the Common Reporting Standard and the Foreign Accounts Tax Compliance Act.