Mauritius has been rated by as “compliant” jurisdiction according to the latest OECD Global Forum on Transparency and Exchange of Information for Tax Purposes published on Tuesday 22nd August 2017.
The Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) published the first 10 outcomes of a new and enhanced peer review process aimed at assessing compliance with international standards for the exchange of information on request between tax authorities.
Australia, Bermuda, Canada, Cayman Islands, Germany and Qatar received the “largely compliant” ratings whereas Ireland, Mauritius and Norway were ranked as “compliant”.
The Global Forum scrutinized 119 jurisdictions globally as it launched the new round of peer reviews in mid-2016 to assess the legal and regulatory framework for information exchange as well as practices and procedures in these jurisdictions. The objective of these peer reviews are to provide in-depth examinations of development systems and policies in context of OECD`s strategy to address risks related to tax compliance.
Global Forum members are working together to monitor and review implementation of the international standard for the automatic exchange of financial account information, under the Common Reporting Standard (CRS), which will start in September 2017. The monitoring and review process is intended to ensure the effective and timely delivery of commitments made, the confidentiality of information exchanged and to identify areas where support is needed.
The Global Forum is assisting developing country members to ensure that they can also receive the benefits of the ongoing global move to automatic exchange of financial account information.