CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Mauritius, South Korea Sign New Tax Deal

Mauritius, South Korea Sign New Tax Deal

by Lorys Charalambous, Tax-News.com, Cyprus

16 August 2016


The Mauritian Government has announced that, on August 11, a tax information exchange agreement (TIEA) was signed between Mauritius and South Korea for the mutual sharing of tax information.

The TIEA provide for cooperation in tax matters between the two jurisdictions. The agreement, once ratified, will allow each country to obtain information on financial assets held and income earned in the other country by its residents.

The OECD's Common Reporting Standard (CRS), the new global standard for automatic exchange of information for tax purposes, obliges all participating countries and jurisdictions to obtain financial information from their financial institutions and to exchange that information automatically with other jurisdictions on an annual basis.

South Korea is committed to being able to make its first CRS exchanges by next year, whereas Mauritius has confirmed that its first exchanges of information will take place from 2018.

The signatories of the TIEA were the Mauritian Minister of Finance and Economic Development, Pravind Jugnauth, and the South Korean Ambassador designate to Mauritius, Kwon Young-Dae.

The new agreement, which is intended to further develop trade and investment relations between the two countries, will work alongside the Investment Promotion and Protection Agreement that is already in force between the two countries.

TAGS: compliance | tax | investment | tax information exchange agreement (TIEA) | tax compliance | Mauritius | agreements | Korea, South

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »