EUROPEAN UNION: MAURITIUS FULLY COMPLIANT WITH TAX GOOD GOVERNANCE PRINCIPLES
On 10 October 2019, the Economic and Financial Affairs Council of the European Union declared Mauritius to be fully compliant with the tax good governance standards of the EU on tax transparency, fair taxation and anti-BEPS measures.
Mauritius adopted on 25 July 2019 its Finance Bill 2019 and on 16 August 2019 additional regulations that amended the legislation applicable to its Freeport zone and Partial Exemption regimes. The EU Code of Conduct Group, at its meeting of 13 September 2019, assessed those amendments and stated that Mauritius had addressed the previous deficiencies identified and had conducted all necessary reforms to comply with the EU’s tax good governance principles.
The OECD’s Inclusive Framework on BEPS, for its part, following its Peer Review of Preferential tax regimes, reported in November 2018 and again in July 2019 that Mauritius does not have any harmful practices in its tax regimes.
Welcoming the findings of the EU, the Mauritius Financial Services Commission remarked that “Mauritius as an IFC has always been at the forefront of innovation while ensuring adherence to international best standards and practices. This recognition by the EU further consolidates our position as a trusted, globally recognised and well-regulated financial centre.”