Hopeful of signing a new TIEA (Tax Information and Exchange Agreement) with India soon, Mauritius has said its regulatory authorities and financial intelligence units are actively cooperating with their Indian counterparts for sharing of information.
The TIEA would help the two countries to exchange information on tax matters of entities doing business in the two countries.“The Tax Information and Exchange Agreement between India and Mauritius has been finalised by both countries and Mauritius is in fact already applying it,” Financial Services Commission (FSC) Chairperson Marc Hein told the news agency.
FSC is Mauritius’ integrated regulator for global business companies and non-banking financial services sector.“We hope that the agreement will be signed by both parties whenever both Governments are ready for this,” said Hein, who was here to participate in an international taxation conference.
According to Hein, Mauritian authorities has been fully co-operative with their Indian counterparts to furnish information whenever “reasonable information” has been requested to the Mauritian authorities.
“The Financial Services Commission and SEBI have been exchanging information for years,” Hein said and added that the “apart from regulatory authorities the Mauritian Financial Intelligence Unit also cooperates with the Indian FIU for exchange of information”.