Tax Alert November 2022

The Global Forum confirms that Mauritius has successfully implemented the Automatic Exchange of Information(“AEOI”) Standard

On 9 November 2022, the Organisation for Economic Cooperation and Development (“OECD”) Global Forum on Transparency and Exchange of Information for Tax Purposes (“Global Forum”) published a report titled “Peer Review of the Automatic Exchange of Financial Account Information 2022”1.

The OECD release includes first peer reviews with effectiveness ratings for 99 jurisdictions (including Mauritius) that committed to start automatic exchange of information under the OECD Common Reporting Standard (“CRS”) in 2017 or 2018.

The report has confirmed that Mauritius:

• Has in place the necessary legal framework and has successfully started exchange of information under the CRS since 2018; and  
• Is on track regarding the effective implementation of the AEOI standard in Practice. 

Regarding the effectiveness in practice, the Global Forum has concluded that the Mauritius Revenue Authority (“MRA”):

• Is actively conducting compliance activities to ensure financial institutions correctly conduct due diligence and report accurate information;
• Has put in place technical solutions necessary to receive and validate information received from financial institutions before they are exchanged with other tax authorities;
• Has used the Common Transmission System with encryption requirements for the exchange of information.

The excellent rating assigned to Mauritius reinforces its position as a clean and transparent jurisdiction.