Mauritius: FSC Communiqué on FATCA Implementation

FATCA - Agreement for the Exchange of Information Relating to Taxes (United States of America - FATCA Implementation) Regulations 2014

With the view to keep licensees informed of developments as regards FATCA and steps being undertaken by Mauritian authorities, the FSC Mauritius:

• issued a Communiqué on 18 February 2013;
• invited comments from licensees on Compliance with FATCA on 24 June 2013; and 
• hosted the ATMC Workshop on FATCA on 13 May 2014.

(Speech of FSC Mauritius Chief Executive)

Licensees are hereby informed that Mauritius signed the reciprocal Model 1 Intergovernmental Agreement (IGA) together with a Tax Information Exchange Agreement (TIEA) with the U.S. on 27 December 2013. The agreement seeks to promote transparency between the two nations regarding tax matters and forms part of the global effort to reduce tax evasion. 

Following the signature, the ‘Agreement for the Exchange of Information Relating to Taxes (United States of America - FATCA Implementation) Regulations 2014’ (GN. No. 135 of 2014 - Govt. Gazette No. 61 of  05 July 2014) was made under section 76 of the Income Tax Act to facilitate the implementation of the IGA by the Mauritius Revenue Authority.