GIS - 10 November, 2017: Mauritius is a not tax haven, says the Prime Minister, Minister of Home Affairs, External Communications and National Development Unit and Minister of Finance and Economic Development.
In a statement on the “Paradise Papers” issued on 9 November 2017 in the wake of unfounded allegations levelled against the Mauritius jurisdiction by the International Consortium of Investigative Journalists, Mr Pravind Kumar Jugnauth said that Mauritius has been falsely described as a tax haven and a place which promotes an environment of secrecy.
“Nothing can be further from the truth. According to the OECD criteria, Mauritius is not a tax haven. Our jurisdiction has always adopted sound regulatory practices and complied with international standards on transparency and exchange of information”, he said.
In June 2015, Mauritius adhered to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, and currently has an exchange information mechanism with 127 jurisdictions, the Prime Minister recalled.
He further stated: “We have committed to exchange information on an automatic basis under the Common Reporting Standard as from 2018, as an early adopter, and are already exchanging information on an automatic basis under the Foreign Accounts Tax Compliance Act.”
According to the statement, the overall rating of ‘Compliant’ given to Mauritius by the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes in 2017, is proof of the transparency and robustness of our exchange of information system.
The Prime Minister adds that Mauritius, as a founding member of the Eastern and Southern Africa Anti Money Laundering Group, has also been at the forefront in the fight against money laundering and other forms of financial crime.
“Mauritius strongly disagrees with the statement that it is ‘rising at the expense of Africa’. It is regrettable that in an attempt to surf on the wave of sensationalism and to toy with emotions, the authors have not realised that Mauritius is itself an African country, and proud to be, the Prime Minister said. He further added that, as member of the African Union, SADC and COMESA, Mauritius is contributing to the sustained economic development of the continent and prosperity of all Africans.
Mauritius has over the years created a business enabling environment that is competitive, transparent and respectful of international standards. The World Bank, in its latest report on Ease of Doing Business, recognises our efforts to improve our investment climate and has upgraded our ranking from 49th to 25th globally. Mauritius has also established itself as a credible platform for cross-border investments into the African continent, said the Prime Minister.
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: email@example.com Website:http://gis.govmu.org