Mauritius IFC endorsed as a cooperative jurisdiction by the european union
In a bid to combat tax malpractices around the globe, EU State Members devised a screening process which includes an assessment of 92 jurisdictions based on tax transparency, fair taxation and the implementation of BEPS measures (the "Criteria"). On 5th December 2017, the EU published its first ever list of non-cooperative tax jurisdictions, listing 17 countries which have failed to meet EU’s agreed tax good governance standards.
The EU has not placed Mauritius on this non-cooperative jurisdictions’ list following its extensive review conducted under the EU Code of Conduct Group on Business Taxation.
This endorsement by the EU bears testimony to the array of reforms taken by the Government of Mauritius to adhere to the highest standards of tax transparency and information exchange.
The cooperation and on-going dialogue between the EU and Mauritius will continue in 2018, whereby Mauritius will work on its commitments to implement additional tax good governance principles.
Mauritius has also, in line with the international movement to fight tax evasion and base erosion, signed the “Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting”, in August 2017.
The OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has given Mauritius the highest rating, in 2017, for implementing the international standards on exchange of information on request, following peer-to-peer reviews and assessments.
The non-inclusion of the Mauritius International Financial Centre on the EU non-cooperative jurisdictions list serves as a recognition for the country’s continuous efforts to comply with international standards and best practices.