BANKING, FINANCE AND INVESTMENT
Mauritius enjoys a steadily growing Gross Domestic Product, with about 30 percent f its exports being sugar. Unemployment tends to be high. Import duties were abolished in an effort to stimulate the economy. State-run businesses and utilities have been increasingly privatized.
Fiscal year: 1 July – 30 June
The Mauritius Stock Exchange (SEM) has been in operation for over 10 years, and employs an SEMATS automated trading system used at firms as opposed to convening on a stock market trading floor. Market value of publicly traded shares: $5.7 billion in 2007, the last year for which numbers were available. It is a proud member of the African Stock Exchanges Association (ASEA) and as of 2005 has been included in the World Federation of Exchanges (WFE).
ACCT, ACP, AfDB, AU, C, COMESA, FAO, G-77, IAEA, IBRD, ICAO, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, InOC, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, NAM, OIF, OPCW, PCA, SADC, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
The Mauritian government has been giving incentives to foreign investment companies in a variety of ways, including the Hotel Development scheme, with only 5 percent tax and a withholding tax holiday for 10 years; an Industrial Building Scheme, which has a 15 percent tax rate and permanent withholding tax holiday; an Expansion Scheme, which offers customs duty exemption and tax credits on environmentally friendly equipment; and a Pioneer Status Enterprise Scheme, which is aimed toward technological advances brought to Mauritius and includes tax-exemptions on withholding, customs duty, sales tax and a 15 percent corporate tax cap.