1. Cabinet has agreed to the introduction into the National Assembly of the Financial (Miscellaneous Provisions) Bill and the Economic and Financial Measures (Miscellaneous Provisions) Bill which provide for the implementation of measures announced in Budget Speech 2013. The Finance (Miscellaneous Provisions) Bill amends 28 enactments relating to taxation and public finance, such as –
(a) the Code Civil Mauricien, the Land (Duties and Taxes) Act, the Registration Duty Act, and the Transcription and Mortgage Act to reinforce provisions and plug loopholes in relation to immovable property transactions; and
(b) the Investment Promotion Act to require every holder of a registration certificate issued by the Board of Investment to satisfy the set criteria for registration and for the Ministry of Finance and Economic Development, the Board of Investment and the Mauritius Revenue Authority to monitor compliance to the established criteria.
Following a ruling of Mr Speaker in July 2009, only measures relating to taxation and national finance are incorporated in the Finance (Miscellaneous Provisions) Bill. Implementation of other measures announced in the Budget Speech relating to economic and financial measures and which require legislative amendments, are provided for in the Economic and Financial Measures (Miscellaneous Provisions) Bill.
The Economic and Financial Measures (Miscellaneous Provisions) Bill, hence, amends a number of enactment to implement economic and financial measures announced in the Budget Speech 2013, such as -
(a) the Education Act and the Fashion and Design Institute Act to provide for the putting in place of appropriate mechanism for consultations between industry partners, Government and educational institutions on trends in labour market and contents of courses with a view to addressing skills mismatch in the labour market;
(b) the Electronic Transactions Act to allow Government Agencies to “make and receive” payments through electronic means/form, hence accelerate adoption of e-Payment;
(c) the Financial Services Act to extend the definition of consumer of financial services which is currently limited to those under the Private Pension Schemes Act and provide for global business companies to set up global headquarters administration and global treasury activities in Mauritius; and
(d) the Road Traffic Act to provide the framework for introduction of Personalized Registration Mark for motor vehicles.