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Investorseurope Daily Market Update 20th March 2015

Investorseurope Daily Market Update 20th March 2015 | Investors Europe Mauritius | Scoop.it

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Mauritius : 2015 Budget Highlights

1 Tax exemption by non-resident company
Interest received by a non-resident company from debentures quoted on the stock exchange will be exempted from income tax
2 Income Tax Act Non- resident corporate bond holders are being exempt from withholding tax
3 Banks & Solidarity Levy Special Levy on Banks & Solidarity Levy on Telephony Service Providers extended up to June 2018.
4 Alternative Minimum Tax Alternative Minimum Tax (AMT) has been removed for all sectors.
5 Small and Medium sized- Enterprises
»» SMEs registered under the Scheme will be exempted from the
payment of corporate tax for a period of 8 years. VAT registration threshold is being increased from MUR 4 million to MUR 6 million.
6 Freight Rebate Scheme The Freight Rebate Scheme will be extended to other ports in Africa and open to all shipping lines.
7 Diaspora (Returning citizens)
Highly qualified and experienced professionals having worked for a
minimum of ten years abroad are eligible to the following exemptions:
»» Income tax for a full period of ten years on all their income including
worldwide income.
»» Payment of customs duties of up to a maximum of MUR 2 million on a car that can be purchased in Mauritius or abroad.
»» Payment of customs duties and VAT on their personal belongings.
8 Manufacturing Extension of the Accelerated Annual Allowances for 3 more years up to
30 June 2018, in respect of the following investment:
»» Equipment costing MUR 50,000 or less (100%, i.e. fully expensed);
»» Industrial premises dedicated to manufacturing (30% reducing
balance);
»» Electronic and high-precision machinery including computer;
»» Hardware and software (50% straight line);
»» Plant and machinery (other than passenger car) by a manufacturing
company (50% straight line); and
»» Scientific research (50% straight line)
Mauritius National
Budget 2015/16
25
9 Health services Exemption from VAT on construction of a purpose-built building for
health services including nursing homes and residential care homes.
10 Bio farming »» An 8-year tax holiday for companies engaging in the production of bio food.
»» Exemption from various taxes and duties on importation of bio food inputs.
11 Ocean Economy

»» MID levy on all petroleum products for re-export will be removed as from 1st July 2015.
»» VAT exemption on machinery and equipment used in the exploration and production of petroleum products.
»» VAT zero-rating of chilled deep sea- water to be used for the
provision of air conditioning services.
12 Green and Sustainable Investment
»» Reintroduction of the Accelerated Income Tax Depreciation
Provision for Green Investment.
»» Amendment of the Sugar Industry Efficiency Act to allow a lessee
to apply for a land conversion permit and benefit from any tax
exemption applicable to renewable energy projects.

Investors Europe Stock Brokers's insight:

1 Tax exemption by non-resident company
Interest received by a non-resident company from debentures quoted on the stock exchange will be exempted from income tax
2 Income Tax Act Non- resident corporate bond holders are being exempt from withholding tax

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Richel's curator insight, April 8, 1:40 PM

This article informs the reader on Africa's budget in 2015. Focusing on certain aspects of their economy. The economy is fairly stable staying pretty steady. However, there is always room for improvement. The article hounds in on taxes and banks.

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"La chasse au cash est lancée" Investors Europe Stock Brokers

"La chasse au cash est lancée" Investors Europe Stock Brokers | Investors Europe Mauritius | Scoop.it

'The French paper Le Parisien didn't mince words in the headline: "La chasse au cash est lancee". Basically 'hunting season on cash is launched'.

Under the auspices of fighting terrorism, France's Minister of Finance, Monsieur Michel Sapin, has rolled out a series of eight new restrictions aimed specifically at minimizing the use of cash.

Among the new restrictions is a prohibition of making more than 1,000 euros in cash payments (down from 3,000 before).

Large cash withdrawls exceeding 10,000 euros per month will also now be monitored and reported to the French authorities.

Foreign exchange offices will now be required to obtain a copy of someone's ID to exchange more than 1,000 euros.

There are several more beyond this. And, just for good measure, they threw in a few controls that aren't even related to cash.

Most importantly, moving and transporting GOLD through France, even through a professional freight service, must now be declared and reported to French customs.

It's pretty obvious what's happening here.

Yes, of course they're saying that they're doing this in order to combat terrorism... because only terrorists use cash apparently.

But that's total BS. These restrictions are capital controls, plain and simple. And they're designed for one single purpose: to keep people's savings trapped in the banking system.

Interest rates in most of Europe are negative... and likely becoming even MORE negative.

Many banks across Europe have already dropped their deposit rates into negative territory as well... meaning that customers must now PAY for the privilege of loaning their hard earned savings to a poorly capitalized bank.

It's obscene. And no one in his/her right mind is going to put up with this for too long.

After all, what's the point of paying a banker NEGATIVE 0.25% if you can simply withdraw all of your savings in cash and hold it in a safety deposit box?

And as interest rates become even more negative, more and more people will realize that they're much better off holding physical cash instead of paying their banker.

Problem is, if even a tiny fraction of bank customers tried to withdraw all of their savings, it would bring down the entire banking system.

Banks simply do not have the money. They don't have OUR money.

The most basic principle of modern banking is for banks to take in money from depositors and gamble away upwards of 97% of it... whether making risky loans based on the latest investment fad, or buying the bonds of bankrupt governments.

They hold a very small portion of our savings in reserve. Everything else is gone.

This means that if customers actually... you know... wanted their own money back, it would cause a giant bank run.

Banks would have to start liqudating assets in panic sales trying to raise enough money to pay back their depositors. And many would fail in the process.

And if the last several years of their 'no banker left behind' policies is any indicator, governments will do anything they have to do to keep banks from failing.

Hence the capital controls.

Their aim is to close every door possible... to eliminate every alternative that people have to hold savings outside of the banking system.

If you want to save your money in a bank at negative interest rates, no problem.

If you want to buy stocks and bonds (again, bankers and governments profit), no problem.

BUT... if you want to hold cash (ironically—'legal tender'), they want to make it illegal.

And if you want to own gold, they're imposing all sorts of reporting requirements.

These are not the policies of governments with strong financial positions and stable banks. These are the policies of bankrupt governments and illiquid banking systems.

It's happening. And as Western nations continue to go broke, it's going to keep happening... the controls are only going to get worse. It's time to do something about it.

If you live in a bankrupt country, definitely consider moving at least a portion of your savings abroad to a low-debt country that has a strong, liquid banking system.

There are plenty out there, especially in the Asia-Pacific region (like Hong Kong, New Zealand, etc.)

You may also want to consider digital currencies as well.

If you have misgivings about this, remember that ALL currencies are digitial. The dollar, euro, pound, etc. are all basically digital. (That's why banks don't have any physical cash on hand).

The primary difference is that crypto-currencies are entirely decentralized... making it very easy to cross international borders with literally millions of dollars encrypted in a string of characters that you can store on your mobile phone.

Precious metals are also great alternatives to the banking system; think about storing gold abroad in an ultra-safe country like Singapore where your wealth can be free of government confiscation and capital controls.

 
Until tomorrow, 
 
Simon Black 
Founder, SovereignMan.com
Investors Europe Stock Brokers's insight:

'Their aim is to close every door possible... to eliminate every alternative that people have to hold savings outside of the banking system.

If you want to save your money in a bank at negative interest rates, no problem.

If you want to buy stocks and bonds (again, bankers and governments profit), no problem.

BUT... if you want to hold cash (ironically—'legal tender'), they want to make it illegal.

And if you want to own gold, they're imposing all sorts of reporting requirements.

These are not the policies of governments with strong financial positions and stable banks. These are the policies of bankrupt governments and illiquid banking systems.

It's happening. And as Western nations continue to go broke, it's going to keep happening... '

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East Africa and Madagascar in the Indian Ocean world since 2000 BC

East Africa and Madagascar in the Indian Ocean world since 2000 BC | Investors Europe Mauritius | Scoop.it

The Indian Ocean has long been a forum for contact, trade and the transfer of goods, technologies and ideas between geographically distant groups of people. Another, less studied, outcome of expanding maritime connectivity in the region is the translocation of a range of species of plants and animals, both domestic and wild. A significant number of these translocations can now be seen to involve Africa, either providing or receiving species, suggesting that Africa’s role in the emergence of an increasingly connected Indian Ocean world deserves more systematic consideration. While the earliest international contacts with the East African coast remain poorly understood, in part due to a paucity of archaeobotanical and zooarchaeological studies, some evidence for early African coastal activity is provided by the discovery of early hunter-gatherer sites on offshore islands, and, possibly, by the translocation of wild animals among these islands, and between them and the mainland. From the seventh century, however, clear evidence for participation in the Indian Ocean world emerges, in the form of a range of introduced species, including commensal and domestic animals, and agricultural crops. New genetic studies demonstrate that the flow of species to the coast is complex, with more than one source frequently indicated. The East African coast and Madagascar appear to have been significant centres of genetic admixture, drawing upon Southeast Asian, South Asian and Middle Eastern genetic varieties, and sometimes yielding unique hybrid species. The biological patterns reflect a deeply networked trade and contact situation, and support East Africa’s key role in the events and transformations of the early Indian Ocean world.



Via Dorian Q Fuller
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Dorian Q Fuller's curator insight, November 29, 2013 5:50 AM

Includes an updated review of the evidence for the arrival of Asian rice in Africa

Dorian Q Fuller's curator insight, November 29, 2013 5:51 AM

This article includes a section reviewing the evidence for the arrival of farming in coastal East Africa and its offshore islands, all quite recents <2000 years, based on current archaeobotanical data.

Eve Emshwiller's curator insight, December 14, 2013 8:32 PM

Looks good to use for the topic on "Global Movement of People and Plants."

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Investorseurope Daily Market Update 8th April 2015

Investorseurope Daily Market Update 8th April 2015 | Investors Europe Mauritius | Scoop.it
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Investorseurope Daily Market Update 26th March 2015

Investorseurope Daily Market Update 26th March 2015 | Investors Europe Mauritius | Scoop.it

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Investorseurope Daily Market Update 25th March 2015

Investorseurope Daily Market Update 25th March 2015 | Investors Europe Mauritius | Scoop.it

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