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Mauritius Ratifies BEPS MLI

by Lorys Charalambous, Lowtax.net, Cyprus
28 October, 2019

Mauritius has recently ratified the base erosion and profit shifting (BEPS) multilateral instrument, agreeing to make changes to its tax treaty network to prevent abuse.

The BEPS MLI, developed through negotiations involving more than 100 countries and jurisdictions as part of the OECD's BEPS project, is intended to enable countries to incorporate BEPS-related amendments into their tax treaties without having to renegotiate bilateral treaties on a piecemeal basis - a process that could take more than a decade to achieve.

The treaty amendments are intended to counter hybrid mismatch arrangements, which can result in double non-taxation or double deductions for the same income, and treaty abuse. In addition, provisions are added to prevent the avoidance of permanent establishment rules and they are intended also to improve dispute resolution, with some countries additionally adopting an optional provision on mandatory binding arbitration.

The BEPS MLI will become effective for Mauritius from February 1, 2020.

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