Mauritius Signs DTA with Nigeria
On 10 August 2012, the Republic of Mauritius and Nigeria have just signed a new treaty for the avoidance of double taxation.
The new Double Tax Agreement (DTAA) between Mauritius and Nigeria comes as part of Mauritius's wider strategy to develop a large treaty network across Africa up to 17 countries (out of which 13 have been ratified) in order to promote Mauritius as the ideal offshore location to channel direct investments into Africa. Mauritius is also expected to sign an Investment Promotion Protection Agreement with Nigeria in the near future.
According to the World Bank/ IFC Doing Business Report 2012, Mauritius has been ranked as being the leading country for doing business in Africa. Also Mauritian Finance Minister Xavier-Luc Duval has also recalled that Africa's average growth is around 6% per year, meaning that Mauritian evolution should be driven by Africa in the future.
Through using DTAA Mauritius is enhancing its position as a safe, trusted and well-established international financial center and consolidate its position as an investment gateway into Africa, as Mauritius-based investors should be relieved from any double taxation in the future and enjoy a clearer allocation of taxing rights.