Mauritius is a little island on the southeast coast of Africa known for its scenic beauties. No wonder many couples across India longing for a 'Bollywood ishtyle' Swiss honeymoon settle for adventures on this isle. But off late they are facing serious crisis getting air tickets for Mauritius ... naah this is not a dig at Kingfisher Airlines !! These Kingfisher Airlines jokes are all over the place but their flights are not *smirk*. Anyways, the ticket problem have arised largely due to top corporates flying to the beautiful isle, not for its scenic beauty but for its financial astheticity.
Yes, Mauritius apart from being a honeymooner's paradise is also the paradise of tax evasion. Since 1992, this country is single handedly pumping large amount of money through foreign investments as a large number of investors who trade on Indian stock markets operate through this route. Basically it is to save tax on the gains coming out of business in India and well well ... surprise surprise ... Mauritius and capital gains tax are as alien as Uday Chopra & acting !!
But the resemblances between the honeymooners & moneymakers are uncanny. Honeymooners go there once the institution (of marriage) is in place. Moneymakers come from there to setup the institution in place. Honeymooners want to do their 'real' business away from public eye. Moneymakers ditto. Honeymooners want to save some money so they settle for this place. Moneymakers ditto.
Although the government suffers, because every Toda-phone will find a Mauritius or a Cayman Islands or a 'I will float a subsidiary under my uncle's name' Islands and give income tax a skip. So now when the government changes the rules, all these investors are running helter-skelter like little urchins to their prime ministers and presidents.
So the question still remains, to stick to the judgement and risk huge amounts of FDIs and investors moving out or reverse it and plant a capital L on the forehead. Plus the wrath of displeasing Mauritius and indirectly the honeymooners and their votes and thereby the majority. Afterall everything counts !!!
Please dont leave now to get hold of an atlas and spot Mauritius the post hasnt ended .... well ... just messing with you ... so long !!!
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