India and Mauritius have taken a significant step towards curbing potential tax evasion by revising their bilateral tax treaty. This revision aims to close loopholes that could have been exploited for tax avoidance purposes.

While the specific details of the revisions are not yet publicly available, the move highlights the ongoing efforts of both countries to strengthen their tax cooperation. This is particularly important in today’s globalized economy, where cross-border transactions are increasingly common.

The revised treaty is likely to include provisions that enhance information exchange between the Indian and Mauritian tax authorities. This could include automatic exchange of information on financial accounts, which has become a global standard for tax transparency.

The revisions could also introduce limitations on treaty benefits for companies and individuals who do not meet certain criteria for residency or beneficial ownership. This would help prevent shell companies or other artificial structures from being used to improperly avoid taxes.

Overall, the revised India-Mauritius tax treaty is a positive development for both countries. It demonstrates their commitment to tackling tax evasion and ensuring a fairer tax system.

Additional Information Needed

While this news article provides a general overview of the revised tax treaty, more details are awaited on the specific revisions made. This would allow for a clearer understanding of the potential impact of the treaty on businesses and individuals.