Mauritian Vice Prime Minister signs Double Taxation Agreement while in Seychelles
The Double Taxation Agreement between Mauritius and Seychelles was signed on the March 11, 2005.
The Double Taxation Agreement between Mauritius and Seychelles was signed on the March 11, 2005. Since the enactment of the agreement, Seychelles has seen an increase in investments from Mauritius, and trade between the two countries has increased significantly.
As both jurisdictions expand, they are being faced with different challenges. The Organisation for Economic Co-operation and Development (OECD), in particular, is pressing all jurisdictions for a relook at and revision of their exchange of information provisions to move towards a more uniform international standard process.
In efforts to maintain their good standing with the OECD, both Mauritius and Seychelles have been able to agree on an amendment to the DTA in regard to the Article on Exchange of Information to bring it more in line with the format recommended by the OECD.
It is to be noted that the move to discuss this amendment to the Exchange of Information Article in our DTA with Mauritius is being mirrored in discussions they are having with all treaty partners.
Mauritius is among the first of the DTA treaty countries that has come forward to finalize an amendment to Article 26.
The government of Seychelles would like both jurisdictions to continue the existing cooperation that has been established in their financial services sectors.