Short of saying that it will not renegotiate the Double Taxation Awardence Treaty with India, Mauritius said on Tuesday there was a need for a balanced approach as the agreement has benefited both the countries since it was framed in 1983.
But Mauritius is willing to address any loopholes in the agreement that are being misused, including the issue of "treaty shopping" by shell companies, Mauritius Deputy Prime Minister and Finance Minister Rama Sithanen told reporters in New Delhi.
The treaty has been periodically fine tuned to prevent its misuse and it will continue in the future as well and the two countries have been in dialogue in this regard since 1993 after the opening of the two economies.
Many of the glitches in the treaty have been addressed since it came into being, he said. Sithanen also said the two countries have been working toward a Comprehensive Economic Cooperation and Preferential Agreement, which is expected to be concluded by the year-end.
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