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Friday, April 19, 2024

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EDB Optimistic About Post Covid Economic Recovery

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The Economic Development Board (EDB) is confident that the Budget would restore confidence in the economy and prepare it for long-term development. This will the image of Mauritius as an investment and trading platform of choice for local and foreign investors.

According to the EDB, the budget contains several sectoral measures to address the challenges and create the necessary momentum in emerging sectors.

Like the “Ease of doing Business” which provides for an “Incentive Schemes Investment Certificate” or 8 years without any tax, exemptions from VAT / zero rate, exemptions from the registration fee for emerging sectors). An Export Development Certificate (3% corporate tax eligibility, program freight fee discount, trade promotion and marketing program). A minimum Premium Investor Investment certificate of Rs 500 million (excluding Pharmaceutical Manufacturing). Incentives negotiable on the recommendation of a technical committee and the approval of the Minister of Finance, Economic Planning and Development.

Also the establishment of a “Business Support Facility” which aims to facilitate services and provide advice to all companies. An Assignment of an ‘Account Manager’ to all registered companies. Or an information sharing platform with the MRA and the Corporate and Business Registration Department (CBRD).

The EDB will also set up commissions by promoting bilateral relations and multilateral agreements, to facilitate trade and business and exports, among others.

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