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AfricaMoney | July 25, 2017

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Mauritius signs multilateral agreement with OECD to boost financial transparency

Mauritius signs multilateral agreement with OECD to boost financial transparency

Mauritian Finance Minister Vishnu Lutchmeenaraidoo, while on mission in Paris, has signed a Multilateral Agreement on Exchange of Information with the OECD, aiming to  bring more substance into the island economy’s activities as an International Financial Centre.(Image:ionnews.mu)

Mauritius entered into a Multilateral Agreement on Exchange of Information with  the Organisation for Economic Cooperation and Development (OECD) on June 23, to strengthen Mauritius’ status as a transparent International Financial Centre (IFC) of good repute.

Mauritian Minister of Finance and Economic Development, Vishnu Lutchmeenaraidoo, who signed the agreement on behalf of the Government of Mauritius while on a mission to Paris, highlighted the importance of this event. He said that the signature of this agreement bears testimony to the determination of the Mauritian Government to develop the economy further as an IFC and ensure that the jurisdiction is more credible and transparent.

Vishnu Lutchmeenaraidoo reassured the global financial community that Mauritius is fully compliant in its fight against tax evasion and continues to bring more value and content to its IFC. He further underlined that Mauritius wants to bring more substance into the activities of its IFC.

The issues following the decision of the European Union to put Mauritius on the blacklist of non-cooperative tax jurisdictions were also discussed. Here, Vishnu Lutchmeenaraidoo highlighted that Mauritius has engaged in important measures to counter this perception, while  reiterating his assurance that the Mauritian jurisdiction is clean and transparent and that the country is in compliance with international standards and norms.

Finally, it must also be noted that Mauritius has been rated as largely compliant by the OECD and its financial services market is well regulated and stable.

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