ARTICLE · 20 FEBRUARY 1998

Mauritius Enhances Offshore

Mauritius International Management Ltd

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MauritiusWealth Management

(PART OF THE ASIACITI GROUP)

By K. C. Li Kwong Wing, B. Sc. (ECON), Managing Director,

Since the enactment of legislation in 1992 for the introduction of offshore business activities in Mauritius, Government has consistently upgraded the legislative framework to keep it up to date with competing jurisdictions and remain in the forefront in meeting the changing needs of the offshore industry.

During 1997, the following innovative changes have been brought to the Mauritius Offshore Business Activities Act 1992, the Offshore Trusts Act 1992, The International Companies Act 1994 and the Income Tax Act 1995.

Offshore Trust

The Offshore Trusts Act 1992 and Income Tax Act 1995 have been amended through the Finance Act 1997 to remove anomalies in the tax treatment of trusts and beneficiaries.

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