Mauritius signs Multilateral Convention to implement tax treaty related measures to prevent BEPS.
11.07.2017-Port-Louis/ Mauritius, joining the international movement to fight tax evasion and base erosion, has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting at the Organisation for Economic Co-operation and Development (OECD) Headquarters in Paris last week.
The Multilateral Convention, also known as the Multilateral Instrument (MLI), will cover 23 of the existing Double Taxation Avoidance Agreements of Mauritius, namely with Barbados, Belgium, Republic of Congo, Croatia, Cyprus, France, Germany, Guernsey, Italy, Kuwait, Lesotho, Luxembourg, Madagascar, Malta, Monaco, Oman, Qatar, Seychelles, South Africa, Swaziland, Sweden, United Arab Emirates and United Kingdom.
Mauritius will also engage on a bilateral level with the remaining 19 treaty-partner countries to modify and conclude the non-covered agreements by the end of 2018. The treaty-partner countries are Bangladesh, Botswana, China, Egypt, India, Malaysia, Mozambique, Namibia, Nepal, Pakistan, Rwanda, Senegal, Singapore, Sri Lanka, Thailand, Tunisia, Uganda, Zimbabwe and Zambia.
Mauritius has also actively participated in the Ad-Hoc Group set up by the OECD to work on the drafting of the Multilateral Instrument as recommended under Action 15 of the Base Erosion and Profit Shifting (BEPS) Report.
As a trusted and fully collaborative international financial centre of substance, Mauritius has always adhered to internationally accepted norms and standards.
It is recalled that in June 2015, Mauritius signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, jointly developed by the Council of Europe and the OECD. Mauritius is equally a member of the Early Adopters Group committed to the early implementation of the Common Reporting Standard on the automatic exchange of financial account information.
Moreover, the country was the first in Africa to have signed up to the Intergovernmental Agreement with the United States for the implementation of the Foreign Accounts Tax Compliance Act.
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