1. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
HILTON MAURITIUS RESORT
RAJESH RAMLOLL SC
IFA MAURITIUS PRESIDENT
APRIL 2019

2. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
A new era of transparency and risk-moving towards internationalism

3. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
LE SECRET BANCAIRE EST MORT:
VIVE L’EVASION FISCALE!

4. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
Source: Edition Favre (2010)

5. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
Source: Tribune de Genève 9 – 10 mars 2019

6. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
LA FIN DU SECRET BANCAIRE
Le 13 Mars 2009, La Suisse lâchait le pan principal du secret bancaire en abandonnant la subtile distinction entre ‘évasion fiscale’ et ‘fraude fiscale’. Elle pliait face aux coups de boutoir des Etats-Unis et de l”OCDE.
Source: Tribune de Genève: 9/10 Mars 2019

7. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
Instrument for Exchange of Information:-
Double Tax Treaties: Article 26 (DTAs)
Tax Information Exchange Agreements (TIEAs)
OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters
Inter Governmental Agreements (Model IGA/1) FATCA

8. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
Milestones towards automatic exchange:-
19 – April 2013 – G 20 Finance Ministers and Central Bank Governors endorsed automatic exchange as new standard
22 May EU Council - unanimously extend automatic exchange at EU level
06 September 2013 – G 20 leaders committed to automatic exchange of information as new ‘global’ standard.
12 February 2014 G 20 Finance Minister endorsed the Common Reporting Standard (CRS).

9. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
Legal basis
Article 26 of the OECD Model Tax Convention
Multilateral Convention on Mutual Administrative Assistance in Tax Matters (as extended on Third Countries in 2011)
Model Competent Authority Agreement (MCAA)
FATCA/IGA 1/TIEA with the US

10. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
Second Round of Peer Review of Global Forum First Batch (July 2017)
Tor A1
“Jurisdictions should ensure that ownership and identity information, including information on […] beneficial owners for all relevant entities […] is available to competent authorities”.

11. STEP CONFERENCE MAURITIUS 04 – 05 April 2019
Amendment by FA 2017 in force since
ROC can only disclose information under section 14 of Companies Act as amended by FA 10/2017
No public register in Mauritius
Compliant with OECD (TOR A1)
Anti-Corruption Summit (London 2015)
Cameron:
Call for end of secrecy relating to UBOs !

12. THANK YOU