Mauritius Revenue Authority communique – Extension of deadline for FATCA reporting
The Mauritius Revenue Authority has issued a communique on 28 April 2020 to extend the deadline for reports due under the Foreign Accounts Tax Compliance Act ( FATCA) to 30 September 2020.
This extension is due to the circumstances surrounding the global pandemic and will provide a welcome (but temporary) relief to Mauritius Foreign Financial Institutions (FFIs) and service providers.
We, however, note that the communique is silent on Common Reporting Standard (CRS) reporting dates and therefore as matters currently stand, the deadline for CRS for the year 2019 is on 31 July 2020.
Our team has expertise both in CRS and FATCA legislation – please feel free to reach out for any queries or assistance that you may require.
Established in 1999, Intercontinental Trust Limited (ITL) provides a plethora of financial and fiduciary services to a diversified client base including private equity firms, real estate multinationals, financial institutions, investment managers and high-net-worth individuals among others.
ITL is located in Ebene, the financial centre of Mauritius and has offices in Singapore, Seychelles and representative offices in South Africa and Kenya.