Mauritius to implement Common Reporting Standard for Automatic Exchange of Tax Information

Mauritius is taking steps to implement the new global Common Reporting Standard for automatic exchange of tax information. 

In that context the Ministry of Finance and Economic Development has on 18th September 2014 confirmed to the Global Forum on Transparency and Exchange of Information for Tax Purposes Government’s commitment to implement the Common Reporting Standard for automatic exchange of tax information.

The Organisation for Economic Co-operation and Development has recently proposed a new global Common Reporting Standard for automatic exchange of tax information in a multilateral context. This standard, which has been endorsed by the G20 Finance Ministers, largely builds on the US Foreign Accounts Tax Compliance Act (FATCA). 

Mauritius is the first African country to have signed an intergovernmental agreement with the USA to implement the FATCA.