ABSTRACT
This chapter brings the findings from the previous chapters together and advances three central arguments. First, India has gone beyond closing the Mauritius loophole to a more robust set of domestic tax reforms while also assuming a new role as one of the leading voices on global tax issues. India’s active engagement in pushing the boundaries of the contemporary global tax reform agenda has exceeded that of most other countries. Second, most African countries are far behind India in their ability and willingness to commit to this new agenda, but there are emerging forces, led by tax justice advocates, investigative journalists, and increasingly better trained tax officials, that offer hope for a different future. Finally, while Mauritius as an offshore financial center has succeeded in consolidating its operations and surviving the current round of regulatory headwinds, its advantages are insufficient for it to become the Singapore or Luxembourg of Africa. The African market is not a panacea for Mauritius’s offshore financial services sector in the wake of India’s tougher stance on offshore finance, and strategic thinking among government and business elites in Mauritius is lacking.
