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Mauritius will start automatic exchange of tax information with other nations only from September 2018, as it has postponed by a year implementation of global common reporting standard on tax matters.
The delay could impact Indian authorities’ efforts to gather more tax-related information from Mauritius, which is allegedly being used by some entities to route illegal funds into India.
Once the standard is in force, there would be stringent measures to curb illicit fund flows, including the requirement to carry out due diligence procedures to record tax residence of clients opening new accounts.
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