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AfricaMoney | June 29, 2017

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The Mauritius International Financial Centre: A CredibleTransparent and Cooperative Financial Hub

The Mauritius International Financial Centre: A CredibleTransparent and Cooperative Financial Hub

The Mauritius International Financial Centre is a jurisdiction of repute and is among the first countries to have signed, in June 2015, ‘The Multilateral Convention on Mutual Administrative Assistance in Tax matters of the Organisation for Economic Cooperation and Development (OECD).

This approach translated into action with the objective of the Government of Mauritius to develop the country into an International Financial Centre of repute, substance and excellence.

Since Mauritius is fully involved in the fight against tax evasion, the jurisdiction continues to add value to the operations of its financial sector.

From this outset, since establishment of the Ministry of Financial Services, Good Governance and Institutional Reforms in December 2014, is involved in its endeavour to make Mauritius a fully cooperative financial platform in accordance with the best International practices in terms of transparency.

The BEPS Project OECD / G20 detailed the priority actions to reform the fiscal framework internationally and ensure that the benefits are well reported in the jurisdiction where activities and the creation of corresponding value.

Upon the signing of the ‘ Multilateral Agreement ‘, Mauritius has established an inclusive framework for the adoption of practices recommended by the OECD and has taken appropriate corrective actions.

Thus, information exchanges become faster and more efficient.

‘The Financial Services Promotion Agency ‘ (FSPA), since its reactivation, stepping up action to promote Mauritius as a transparent, robust and substantive platform proven to adhere international norms and standards.

Thus, the assertion of Mrs Eliane Houlette at the Finance Committee of the French Senate, declaring “the states with which we struggle to cooperate are: [...] Mauritius [...] “as reported in the press, does not reflect the current situation.

The Mauritian government continues to expand its initiatives to demonstrate the seriousness of its commitment to transparency and tax cooperation.

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