Mauritius is among the greatest locations to do enterprise in Africa and has been for a very long time. Earlier than the World Financial institution discontinued its “Ease of Doing Business” report, Mauritius was ranked 1st in Africa and 13th globally. Though the World Financial institution stated it discontinued the Ease of Doing Enterprise Report “after information irregularities on Doing Enterprise 2018 and 2020 have been reported internally in June 2020,” Mauritius has constantly been one of many prime ranked nations, which in a manner nonetheless reveals the nation was main the continent on this entrance.
Centurion Lawyers and Business Advisors says “Mauritius stays among the many Sub-Saharan Africa area’s most business-friendly international locations, with strong financial insurance policies and prudent banking practices, appropriate for each home and international entrepreneurs and traders.” Mauritius additionally has one of many world’s most beneficiant tax regimes. Private and company tax are harmonized at a low 15% and dividends are tax-free. Mauritius additionally has non-double taxation agreements with 33 countries. Mauritius has now moved to increase its superior tax insurance policies to catalyze the adoption of electrical mobility. From the first of July 2022, all hybrid and electrical automobiles are actually duty-free in Mauritius. This was introduced earlier this 12 months by Finance Minister Renganaden Padayachy in his 2022-23 Price range Speech.
The Mauritian authorities additionally launched a rebate on the excise responsibility scheme of 10% for the acquisition of electrical automobiles by people as much as a most of Rs 200,000 ($4,500). These incentives have been launched beneath the “Accelerating The Land Transport Electrical Autos Transition” program the place the federal government needs to additional scale back its dependence on import of petroleum merchandise, decarbonize the land transport system, and speed up the EV transition. This makes a lot sense for an island nation that is dependent upon imports for fueling ICE automobiles.
The federal government can also be transferring to extend the penetration of regionally generated renewable vitality. They’ve a goal of 60% vitality from renewable sources by 2030. The facility of incentives for the electrical mobility sector is well-known. Norway led the way in which over the previous decade and now the share of electrical automobiles in Norway is constantly hovering above 85%. China is one other instance the place incentives actually sparked the EV revolution. In Africa, Rwanda launched a variety of superior incentives final 12 months.
It’s actually good to see one other African nation introducing some incentives for electrical automobiles. Mauritius is a member of the Southern African Improvement Neighborhood (SADC) the place South Africa, the continent’s largest car market, can also be a member. We hope South Africa can get impressed by its fellow SADC state. In South Africa, EVs nonetheless entice greater import duties and taxes than inner combustion engine automobiles, which is basically unusual in 2022.
A lot of the electrical automobiles nonetheless have greater costs than their equal ICE automobiles and therefore will value far more once they land in Africa after delivery and import duties. Eradicating import duties for EVs can be one of many quickest methods to make sure customers get entry to extra inexpensive EVs. Mauritius and Rwanda are main the way in which in Africa. I hope South Africa, Kenya, Zimbabwe, and the remainder of the international locations on the African continent comply with quickly.
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