A protocol on the exchange of information on fiscal matters with regard to the Double Taxation Avoidance Agreement (DTAA) between Mauritius and France was signed yesterday in Port Louis by the Vice-Prime Minister, Minister of Finance and Economic Development, Mr Pravind Jugnauth, and the French Ambassador, Mr Jean François Dobelle.
The protocol which will give a further spur to the positive evolution of economic ties between the two countries will provide greater tax certainty for businessmen while making clear the taxing rights of Mauritius and France on all forms of income arising from cross-border economic activities between the two countries. The protocol will also update the standards with regards to the exchange of information on fiscal matters.
Speaking on the occasion, the Vice-Prime Minister, Minister of Finance and Economic Development, Mr Pravind Jugnauth, stressed that the signing of the protocol will not only confirm the adherence of both countries to the best international practices but will also enhances bilateral economic and commercial ties. According to him, the exchange of information in fiscal matters is important in the fight against corruption, money laundering and terrorism. Mr Jugnauth added that Mauritius had already revised its financial and legal systems to make them compliant to international standards and norms in order to consolidate the country's reputation as a financial centre.
For his part, the French Ambassador, Mr Jean François Dobelle, qualified the protocol as a step ahead in the already dense economic and social cooperation ties between the two countries and he reiterated that it will further strengthen the fight against money laundering and other illicit cross-border activities.
It will be recalled that the existing DTAA between Mauritius and France was signed in 1980. Article 27 of the agreement already provides for the exchange of information in specific areas. With the amendments brought under the protocol, the existing standards under Article 27 will be in line with the international standards of the Organisation for Economic Cooperation and Development (OECD).
Mauritius has so far signed thirty nine Double Taxation Avoidance Agreements with several countries and is committed to developing a Tax Information Exchange Agreement with countries which have no Double Taxation Agreement with us.
No comments:
Post a Comment