Agreement on Exchange of Information on Tax Matters (States of Guernsey) Regulations 201

G! !o" # of 201 Go$ernment Ga%ette of Mauritius !o" 0 of & A'ril 201 T(E I!)*ME TA+ A)T Regulations ma,e -y the Minister un,er section #& of the Income Tax Act 1" These regulations may be cited as the Agreement on Exchange of Information on Tax

Matters (States of Guernsey) Regulations 201 " 2" In these regulations Agreement means the agreement entered into with the States of Guernsey in pursuance of section 76 of the Income Ta Act and set out in the Schedule to these regulations! " The Agreement shall come into operation on such date as specified by the "inister in a

notice published in the Gazette. "ade by the "inister on #$ "arch #$%&! ------------------------S)(E./0E '(egulation #) AG(**"*+T ,*T-**+ T.* G/0*(+"*+T /1 T.* (*23,4I5 /1 "A3(ITI3S A+6 T.* STAT*S /1 G3*(+S*7 /+ *85.A+G* /1 I+1/("ATI/+ /+ TA8 "ATT*(S -.*(*AS it is ac9nowledged that the States of Guernsey has the right: under the terms of the

*ntrustment from the 3nited ;ingdom of Great ,ritain and +orthern Ireland: to negotiate: conclude: perform and: sub<ect to the terms of this Agreement: terminate a ta information e change agreement with the (epublic of "auritius= -.*(*AS the 2arties wish to enhance and facilitate the terms and conditions go>erning the e change of information relating to ta es= +/-: therefore: the 2arties ha>e agreed to conclude the following Agreement which contains obligations on the part of the 2arties only? Article 1 *-1ect an, Sco'e of the Agreement The 2arties: through their competent authorities: shall pro>ide assistance through e change of information that is foreseeably rele>ant to the administration and enforcement of the domestic laws of the 2arties concerning ta es co>ered by this Agreement: including information that is foreseeably rele>ant to the determination: assessment and collection of such ta es: the reco>ery and enforcement of ta claims: or the in>estigation of ta matters or the prosecution of criminal ta matters! Information shall be e changed in accordance with the pro>isions of this Agreement and shall be treated as confidential in the manner pro>ided in Article @! The rights and safeguards secured to persons by the laws or administrati>e practice of the reAuested 2arty remain applicable! The reAuested 2arty shall use its best endea>ours to ensure that the effecti>e e change of information is not unduly pre>ented or delayed! Article 2 2uris,iction A reAuested 2arty is not obligated to pro>ide information which is neither held by its authorities nor in the possession of or obtainable by persons who are within its territorial <urisdiction! Article Taxes )o$ere, %! The ta es which are the sub<ect of this Agreement are?

aB

in Guernsey? CiB income ta :

CiiB dwellings profits ta = bB #! in "auritius: the income ta !

This Agreement shall also apply to any identical ta es imposed after the date of signature

of the Agreement in addition to or in place of the e isting ta es! This Agreement shall also apply to any substantially similar ta es imposed after the date of signature of the Agreement in addition to or in place of the e isting ta es if the 2arties so agree! 1urthermore: the ta es co>ered may be e panded or modified by mutual agreement of the 2arties in the form of an e change of letters! The competent authorities of the 2arties shall notify each other of any substantial changes to their ta ation and related information gathering measures which may affect their obligations pursuant to the Agreement!

Article 3 .efinitions %! 1or the purposes of this Agreement: unless otherwise defined? aB Guernsey means the States of Guernsey and: when used in a geographical conte t: means Guernsey: Alderney and .erm: including the territorial sea ad<acent to those islands: in accordance with international law= bB "auritius means the (epublic of "auritius and includes? CiB all the territories and islands which: in accordance with the laws of "auritius: constitute the State of "auritius= CiiB the territorial sea of "auritius= and

CiiiB any area outside the territorial sea of "auritius which in accordance with international law has been or may hereafter be designated: under the laws of "auritius: as an area: including the 5ontinental Shelf: within which the rights of "auritius with respect to the sea: the seaDbed and subDsoil and their natural resources may be e ercised= cB collecti>e in>estment fund or scheme means any pooled in>estment >ehicle: irrespecti>e of legal form! The term public collecti>e in>estment fund or scheme means any collecti>e in>estment fund or scheme pro>ided the units: shares or other interests in the fund or scheme can be readily purchased: sold or redeemed by the public! 3nits: shares or other interests in the fund or scheme can be readily purchased: sold or redeemed by the public if the purchase: sale or redemption is not implicitly or e plicitly restricted to a limited group of in>estors= dB company means any body corporate or any entity that is treated as a body corporate for ta purposes= eB competent authority means? CiB in the case of Guernsey: the 6irector of Income Ta or his authorised representati>e= CiiB in the case of "auritius: the 6irectorDGeneral of the "auritius (e>enue Authority or his authoriEed representati>e= fB criminal laws means all criminal laws designated as such under domestic law irrespecti>e of whether contained in the ta laws: the criminal code or other statutes= gB criminal ta matters means ta matters in>ol>ing intentional conduct: which is liable to prosecution under the criminal laws of the reAuesting 2arty= hB information means any fact: statement: document or record in any form whate>er=

iB information gathering measures means laws and administrati>e or <udicial procedures that enable a reAuested 2arty to obtain and pro>ide the reAuested information= <B 9B lB 2arties means Guernsey or "auritius: as the conte t reAuires= person includes an indi>idual: a company and any other body of persons= principal class of shares means the class or classes of shares representing a ma<ority of the >oting power and >alue of the company= mB publicly traded company means any company whose principal class of shares is listed on a recognised stoc9 e change pro>ided its listed shares can be readily purchased or sold by the public! Shares can be purchased or sold by the public if the purchase or sale of shares is not implicitly or e plicitly restricted to a limited group of in>estors= nB recognised stoc9 e change means the 5hannel Islands Stoc9 * change: The Stoc9 * change of "auritius 4td and any other stoc9 e change agreed upon by the competent authorities of the 2arties= oB reAuested 2arty means the 2arty reAuested to pro>ide or which has pro>ided information in response to a reAuest= pB reAuesting 2arty means the 2arty submitting a reAuest for or ha>ing recei>ed information from the reAuested 2arty= AB #! ta means any ta to which the Agreement applies!

As regards the application of this Agreement at any time by a 2arty: any term not defined

therein shall: unless the conte t otherwise reAuires: ha>e the meaning that it has at that time under the law of that 2arty: any meaning under the applicable ta laws of that 2arty pre>ailing o>er a meaning gi>en to the term under other laws of that 2arty!

Article 4 Exchange of Information /'on Re5uest %! The competent authority of the reAuested 2arty shall pro>ide upon reAuest information for

the purposes referred to in Article %! Such information shall be e changed without regard to whether the reAuested 2arty needs such information for its own ta purposes or the conduct being in>estigated would constitute a crime under the laws of the reAuested 2arty if such conduct had occurred in the territory of the reAuested 2arty! The competent authority of the reAuesting 2arty shall only ma9e a reAuest for information pursuant to this Article when it is unable to obtain the reAuested information by other means within its own territory: e cept where recourse to such means would gi>e rise to disproportionate difficulty! #! If the information in the possession of the competent authority of the reAuested 2arty is not

sufficient to enable it to comply with the reAuest for information: that 2arty shall use all rele>ant information gathering measures necessary to pro>ide the reAuesting 2arty with the information reAuested: notwithstanding that the reAuested 2arty may not need such information for its own ta purposes! &! If specifically reAuested by the competent authority of the reAuesting 2arty: the competent

authority of the reAuested 2arty shall pro>ide information under this Article: to the e tent allowable under its domestic laws: in the form of depositions of witnesses and authenticated copies of original records! F! *ach 2arty shall ensure that its competent authority has the authority for the purposes

specified in Article %: and within the limitations of Article #: to obtain and pro>ide upon reAuest? aB information held by ban9s: other financial institutions: and any person: including nominees and trustees: acting in an agency or fiduciary capacity= bB CiB information regarding the ownership of companies: partnerships: foundations: and other persons: including ownership information on all such persons in an ownership chain= CiiB in the case of trusts: information on settlors: trustees: protectors: enforcers and

beneficiaries= and CiiiB in the case of foundations: information on founders: members of the foundation council and beneficiaries! 2ro>ided that this Agreement does not create an obligation on the 2arties to obtain or pro>ide ownership information with respect to publicly traded companies or public collecti>e in>estment funds or schemes unless such information can be obtained without gi>ing rise to disproportionate difficulties! G! Any reAuest for information shall be formulated with the greatest detail possible and shall specify in writing? aB bB cB the identity of the person under e amination or in>estigation= the period for which the information is sought= the nature of the information sought and the form in which the reAuesting 2arty wishes to recei>e it= dB the reasons for belie>ing that the information reAuested is foreseeably rele>ant to ta administration and enforcement of the reAuesting 2arty: with respect to the person identified in subparagraph aB of this paragraph= eB fB the ta purpose for which the information is sought= the grounds for belie>ing that the information reAuested is held in the reAuested 2arty or is in the possession of or obtainable by a person within the <urisdiction of the reAuested 2arty= gB to the e tent 9nown: the name and address of any person belie>ed to be in possession of or able to obtain the reAuested information= hB a statement that the reAuest is in conformity with the law and administrati>e practices

of the reAuesting 2arty: that if the reAuested information was within the <urisdiction of the reAuesting 2arty then the competent authority of the reAuesting 2arty would be able to obtain the information under the laws of the reAuesting 2arty or in the normal course of administrati>e practice and that it is in conformity with this Agreement= iB a statement that the reAuesting 2arty has pursued all means a>ailable in its own territory to obtain the information: e cept where that would gi>e rise to disproportionate difficulties! 6! The competent authority of the reAuested 2arty shall forward the reAuested information as promptly as possible to the reAuesting 2arty! To ensure a prompt response: the competent authority of the reAuested 2arty shall? aB confirm receipt of a reAuest in writing to the competent authority of the reAuesting 2arty and shall notify the competent authority of the reAuesting 2arty of deficiencies in the reAuest: if any: within 6$ days of the receipt of the reAuest= bB if the competent authority of the reAuested 2arty has been unable to obtain and pro>ide the information within H$ days of receipt of the complete reAuest: including if it encounters obstacles in furnishing the information or it refuses to furnish the information: it shall immediately inform the reAuesting 2arty: e plaining the reasons for its inability: the nature of the obstacles or the reasons for its refusal! Article & Tax Examinations A-roa, -ith reasonable notice: a 2arty may allow representati>es of the competent authority of the other 2arty: to the e tent permitted under its domestic laws: to enter the territory of the firstD mentioned 2arty: to inter>iew indi>iduals and e amine records with the written consent of the persons concerned! The competent authority of the secondDmentioned 2arty shall notify the competent authority of the firstDmentioned 2arty of the time and place of the meeting with the indi>iduals concerned! #! At the reAuest of the competent authority of one 2arty: and in accordance with its domestic

laws: the competent authority of the other 2arty may allow representati>es of the competent authority of the firstDmentioned 2arty to be present at the appropriate part of a ta e amination in the secondDmentioned 2arty! &! If the reAuest referred to in paragraph # is acceded to: the competent authority of the 2arty conducting the e amination shall: as soon as possible: notify the competent authority of the other 2arty about the time and place of the e amination: the authority or official designated to carry out the e amination and the procedures and conditions reAuired by the firstDmentioned 2arty for the conduct of the e amination! All decisions with respect to the conduct of the ta e amination shall be made by the 2arty conducting the e amination! Article # 6ossi-ility of .eclining a Re5uest %! The competent authority of the reAuested 2arty may decline to assist? aB bB where the reAuest is not made in conformity with this Agreement= where the reAuesting 2arty has not pursued all means a>ailable in its own territory to obtain the information: e cept where recourse to such means would gi>e rise to disproportionate difficulties= or cB #! where the disclosure of the information reAuested would be contrary to public policy!

This Agreement shall not impose on a 2arty the obligation to supply items sub<ect to legal

pri>ilege or information which would disclose any trade: business: industrial: commercial or professional secret or trade process: pro>ided that information of the type referred to in Article 5, paragraph F shall not by reason of that fact alone be treated as such a secret or trade process! &! A reAuest for information shall not be refused on the ground that the ta claim gi>ing rise to

the reAuest is disputed! F! The reAuested 2arty shall not be reAuired to obtain or pro>ide information which: if the

reAuested information was within the <urisdiction of the reAuesting 2arty: the competent authority of the reAuesting 2arty would not be able to obtain under its own laws for the purposes of the administration and enforcement of its own ta laws! G. The reAuested 2arty may decline a reAuest for information if the information is reAuested

by the reAuesting 2arty to administer or enforce a pro>ision of the ta law of the reAuesting 2arty: or any reAuirement connected therewith: which discriminates against a citiEen of the reAuested 2arty as compared with a citiEen of the reAuesting 2arty in the same circumstances! Article 7 )onfi,entiality %! All information pro>ided and recei>ed by the competent authorities of the 2arties shall be

9ept confidential! #! Such information shall be disclosed only to persons or authorities Cincluding courts and

administrati>e bodiesB concerned with the purposes specified in Article %: and used by such persons or authorities only for such purposes: including the determination of any appeal! 1or these purposes: information may be disclosed in public court proceedings or in <udicial decisions! &! Such information may not be used for any purpose other than for the purposes stated in

Article % without the e press written consent of the competent authority of the reAuested 2arty! F! Information pro>ided to a reAuesting 2arty under this Agreement may not be disclosed to

any other <urisdiction! Article 8 )osts 3nless the competent authorities of the 2arties otherwise agree: indirect costs incurred in pro>iding assistance shall be borne by the reAuested 2arty: and direct costs incurred in pro>iding assistance Cincluding costs of engaging e ternal ad>isors in connection with: litigation or otherwiseB shall be borne by the reAuesting 2arty! The respecti>e competent authorities shall

consult from time to time with regard to this Article: and in particular the competent authority of the reAuested 2arty shall consult with the competent authority of the reAuesting 2arty in ad>ance if the costs of pro>iding information with respect to a specific reAuest are e pected to be significant! Article 10 Im'lementation 0egislation The 2arties shall enact any legislation necessary to comply with: and gi>e effect to: the terms of the Agreement! Article 11 Mutual Agreement 6roce,ure %! -here difficulties or doubts arise between the 2arties regarding the implementation or

interpretation of the Agreement: the competent authorities shall endea>our to resol>e the matter by mutual agreement! #! In addition to the agreements referred to in paragraph %: the competent authorities of the

2arties may mutually agree on the procedures to be used under Articles G: 6 and H! &! The competent authorities of the 2arties may communicate with each other directly for

purposes of reaching agreement under this Article! F! The 2arties may also agree on other forms of dispute resolution! Article 12 Entry into 9orce %! This Agreement is sub<ect to ratification: acceptance or appro>al by the 2arties: in

accordance with their respecti>e laws! #! The 2arties shall notify each other: in writing: through the appropriate channel of the

completion of their constitutional and legal procedures for the entry into force of this Agreement!

This Agreement shall enter into force on the date of the last notification and shall thereupon ha>e effect in respect of ta able periods beginning on or after that date or: where there is no ta able period: all charges to ta arising on or after that date! Article 1 Termination %! *ither 2arty may terminate the Agreement by ser>ing a notice of termination either through

appropriate channels or by letter to the competent authority of the other 2arty! #! Such termination shall become effecti>e on the first day of the month following the

e piration of a period of si months after the date of receipt of notice of termination by the other 2arty! &! All reAuests recei>ed up to the effecti>e date of termination will be dealt with in accordance

with the terms of this Agreement! F! If the Agreement is terminated: the 2arties shall remain bound by the pro>isions of Article @ with respect to any information obtained under the Agreement! I! :IT!ESS :(ERE*9 the undersigned: duly authoriEed thereto: ha>e signed this Agreement in 4ondon: on this 6th day of 1ebruary of the year of #$%&: in two originals: in the *nglish language! (" E" Mr" A" ;un,asamy (igh )ommissioner 9or the Go$ernment of the Re'u-lic of Mauritius .e'uty 6" A" (ar<oo, )hief Minister 9or the States of Guernsey