Mauritius removed from the Tax blacklist of Italy
Mauritius is no longer part of the tax blacklist of Italy following the entry into force of the Italian Stability Law 2015. This development follows the efforts undertaken by Mauritius to raise the standards of transparency and governance in its financial sector.
Italy has also taken this decision in recognition of the effectiveness of the Mauritius tax exchange information system. Another factor is that the provisions of information exchange between the two countries in terms of taxes are considered robust and effective in preventing the risk of tax evasion in business transactions.
With this decision, Italy has aligned itself with the Organisation for Economic Cooperation and Development who had already removed Mauritius from its black list since long.
In a statement, the Minister of Finance and Economic Development, Mr Vishnu Lutchmeenaraidoo, underlined that the decision of the Italian government bears testimony to Mauritius being a transparent financial centre of good repute. He further stressed that Mauritius has also taken several measures to strengthen its jurisdiction.
This development, Minister Lutchmeenaraidoo pointed out, will enable Mauritius to consider new opportunities for trade and investment with Italy. Mauritian exports to Italy may now onwards benefit from a more favorable tax system hence making it more competitive, he added. He further said that more Italian investors as well as enterprises are expected to invest in Mauritius owing to the favorable tax regime.
Source: Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius.