Mauritius & six other countries joins global efforts to curb profit shifting by MNEs

Mauritius & six other countries joins global efforts to curb profit shifting by MNEs

Mauritius along with Gabon, Hungary, Indonesia, Lithuania, Malta and the Russian Federation signed the Multilateral Competent Authority Agreement for Country-by- Country Reporting (CbC MCAA). Now the total number of signatories increased to 57 while India signed the agreement in May 2016.This

agreement will allows signatories to bilaterally and automatically exchange country-by-country reports with each other, as contemplated by Base Erosion and Profit Shifting (BEPS) Action Plan. BEPS refers to tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations.