• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Taxation

Senegal tears up its double tax treaty with Mauritius

Senegal tears up its double tax treaty with Mauritius
  • Christopher Copper-Ind
  • @intlinvestment
  • 27 May 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

The West African country of Senegal has abruptly ended its double taxation treaty with the island of Mauritius, it was confirmed today.

According to reports, Senegal had previously threatened to cancel the agreement if specified key conditions were not met.

Related articles

  • Mauritius added to FATF's greylist
  • Bahamas 'disappointed' by EU's blacklist proposal
  • Indian firms tapped Mauritius to save on taxes
  • Panama moves forward with beneficial owner register

Among other grievances, Senegal alleged that the bilateral treaty had caused the government $257m in lost tax revenue since the agreement was signed in 2004.

The problem with this tax treaty is that it was unbalanced.”

It is the first time that Senegal has called time on a bilateral tax treaty.

Magueye Boye, a Senegalese tax official told the International Consortium of Investigative Journalists, "The problem with this tax treaty is that it was unbalanced."

Before the covid-19 pandemic, Mauritius was ranked the second fastest-growing wealth market, beaten only by China. 

In February, Mauritius was added to the Financial Action Task Force (FATF) greylist, a list for jurisdictions with deficiencies in their regimes to counter money laundering.

It is almost unprecedented for countries to cancel bilateral tax agreements with each other.

Subscribe to International Investment's free, twice-daily, newsletter

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Taxation
  • West African
  • Senegal
  • Mauritius
  • U.S.

More on Taxation

Report proposes 5% UK wealth tax to offset pandemic costs

  • Taxation
  • 09 December 2020
Britons in France warned of steep capital gains tax rises when selling property

  • Taxation
  • 07 December 2020
HMRC payments to tax evasion whistleblowers up 63%

  • Taxation
  • 04 December 2020
OECD to issue international crypto tax evasion standards next year

  • Cryptocurrencies
  • 04 December 2020
Global tax evasion costs $427bn per year

  • Taxation
  • 04 December 2020
Back to Top

Most read

SharingAlpha's 2020 top rated funds by category revealed
SharingAlpha's 2020 top rated funds by category revealed
DeVere launches equity fund with Columbia Threadneedle Investments
DeVere launches equity fund with Columbia Threadneedle Investments
Guardian WM is reborn as Skybound WM
Guardian WM is reborn as Skybound WM
HNWIs in SE Asia cite lack of financial knowledge as greatest concern: report
HNWIs in SE Asia cite lack of financial knowledge as greatest concern: report
People moves: IQ-EQ, AllianceBernstein, Beaufort Group, BCS Global Markets, Tyndall IM, TMF Group
People moves: IQ-EQ, AllianceBernstein, Beaufort Group, BCS Global Markets, Tyndall IM, TMF Group
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading