AS per OECD, Mauritius has taken
a major step forward to enhance its exchange of information legal framework
and has signed the Multilateral Convention on Mutual Administrative Assistance
in Tax Matters. It is the seventh member of the African Tax Administration
Forum to join the Convention and becomes the 87th jurisdiction participating
to this truly global instrument to fight international tax avoidance and
evasion.
Mr. Vishnu Lutchmeenaraidoo, Minister of Finance and Economic Development
signed the Convention in the presence of the OECD Secretary General Angel Gurria.
On 24 October 2014, Mauritius was among the first 51 jurisdictions (the early
adopters), which signed a multilateral competent authority agreement to automatically
exchange information on financial account information (the new international
standard) based on Article 6 of the Multilateral Convention. Subsequent signatures
of the agreement bring the total number of jurisdictions to 61. Mauritius has
committed to start exchanging automatically in 2017 and now has joined the
legal instrument which once ratified serves as the basis for the implementation
of the multilateral competent authority agreement already signed.
Mauritius has been very active in ensuring effective implementation of international
standards of transparency and exchange of information which is also evidenced
by its long standing commitment to implementing the standards. It is a member
of the Global Forum on Transparency and Exchange of information and the 2014
peer review of Mauritius concluded that it is largely Compliant with the standard
of exchange of information on request.
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