MRA launches Common Reporting Standard platform for automatic exchange of information

 

A Common Reporting Standard (CRS) platform focusing on Automatic Exchange of Information (AEOI) for tax purposes in a multilateral context.  According to the Director-General of the MRA, Mr Sudhamo Lal, the launching of the AEOI portal marks a milestone in protecting Mauritius as a reputable international financial centre. He recalled that the adoption of the Foreign Accounts Tax Compliance Act coupled with the global financial crisis led to a significant momentum for putting in place a global standard for AEOI.

Furthermore, the Director-General of the MRA underlined that 49 countries have already implemented the CRS in 2017 and 53 more countries are about to exchange information through the CRS in 2018, which is a clear indicator that there will no place for tax evaders to hide. On this score, he pointed out that Mauritius with a zero-tolerance policy on illicit funds is fully committed to exchanging tax information under CRS by September 2018 while adding that it is important to adhere to international standards with a view to strengthen international cooperation and combat cross border financial crime.

 

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