“A balanced approach that combines global best practices with tailored regional solutions is essential”

Roomesh Ramchurn, Chairperson of the IFA 

The international tax landscape is undergoing unprecedented reforms, reshaping how multinational enterprises are taxed. For small island economies like Mauritius, the stakes are high. “Balancing tax competitiveness for investment attraction with the need to align with global standards is a complex, yet crucial task for any jurisdiction,” says Roomesh Ramchurn, Chairperson of IFA (International Fiscal Association) Mauritius and Tax Partner with Forvis Mazars. The challenge, he believes, provides an opportunity to strengthen tax systems, enhance transparency, and foster sustainable economic growth. As host of the 16th Asia/Africa IFA Conference, which will take place on September 25, Mauritius steps into the spotlight, offering a platform for dialogue on wealth management, cross-border investment, and the future of fair taxation.

R.V.

The forthcoming 16th Asia/Africa IFA Conference is themed “Rethinking International Taxation: Ushering into the Era of Global Reform.” Could you tell us more about this event and the theme chosen?

The OECD has proposed the implementation of Pillar 2 and Pillar 1 following their report issued in 2015. The Finance Act 2025, which was recently enacted, has introduced the Qualified Domestic Minimum Top-Up Tax (QDMTT) and documentation for arm’s length transactions, both of which are key recommendations of the OECD. These measures are designed to ensure that multinational enterprises pay a fair share of taxes in the jurisdictions where they operate, thereby promoting transparency and fairness in the global tax system.

However, the landscape of international taxation has been significantly influenced by the measures introduced by the Trump administration. These measures have steered global tax policies away from coordinated reform and towards a more fractured and confrontational environment. This shift has created a landscape where businesses face greater uncertainty, and governments may find themselves in conflict over taxing rights. The resulting environment is one of increased complexity and unpredictability, which poses significant challenges for both businesses and tax authorities.

Considering these dynamic changes and innovative approaches in the field of international taxation, the theme of this year’s conference – “Rethinking International Taxation: Ushering into the Era of Global Reform” – is particularly relevant. The conference aims to address these challenges head-on, providing a platform for experts, policymakers, and practitioners to discuss and navigate the evolving global tax landscape. By fostering dialogue and collaboration, the conference seeks to promote a more cohesive and effective approach to international tax reform, ensuring that the global tax system remains fair, transparent, and sustainable.

What are the key objectives of this year’s conference, and how does IFA Mauritius plan to ensure meaningful dialogue between participants?

The key objectives of this year’s conference are to appraise participants of key tax reforms, explore their economic impacts, and analyse compliance and enforcement. The conference aims to provide a comprehensive understanding of the dynamic changes and innovative approaches in the field of international taxation.

To ensure meaningful dialogue between participants, the International Fiscal Association (Mauritius) Branch is organising four high-level panel discussions, each focusing on critical aspects of international taxation. These panels will cover topics such as the implications of Pillar 2 and QDMTT on multinational enterprises, changes in wealth management following the end of tax-exempt status, challenges in cross-border investment structuring, and the legal and practical challenges of tax disputes in Mauritius. By bringing together experts, policymakers, academics, and practitioners, the conference aims to foster a platform for sharing insights and experiences related to international tax changes.

A data-driven approach helps ensure that policy decisions are informed by accurate and comprehensive information.

How important is it for Mauritius to host this regional conference, both in terms of positioning itself as a financial centre and contributing to the global tax conversation?

Hosting the 16th Asia/Africa IFA Conference is of paramount importance for Mauritius, both in terms of positioning itself as a financial centre and contributing to the global tax conversation.

Firstly, by hosting this prestigious event, Mauritius reinforces its status as a leading financial hub in the region. The conference provides a platform for showcasing the country’s robust financial infrastructure, regulatory framework, and commitment to international standards. This visibility is crucial for attracting foreign investment and fostering trust among global financial institutions and multinational enterprises.

Secondly, the conference theme, “Rethinking International Taxation: Ushering into the Era of Global Reform,” aligns with the ongoing global tax reforms, including BEPS 2.0 and the implementation of a global minimum tax. By hosting this event, Mauritius positions itself at the forefront of these discussions, demonstrating its proactive approach to adapting to and influencing international tax policies.

Moreover, the conference facilitates meaningful dialogue between experts, policymakers, academics, and practitioners from across Asia and Africa. This exchange of insights and experiences is invaluable for shaping effective tax policies and addressing the unique challenges faced by small island economies like Mauritius. It also underscores Mauritius’s role in contributing to the global tax conversation and promoting fair and transparent tax practices.

Hosting the 16th Asia/Africa IFA Conference is a strategic move for Mauritius, enhancing its reputation as a financial centre and playing a pivotal role in the evolving landscape of international taxation.

The international tax landscape is undergoing significant reforms, including developments around BEPS 2.0 and global minimum tax. Which reforms do you expect to dominate discussions at the conference?

The international tax landscape is indeed undergoing significant reforms, and several key developments are expected to dominate discussions. The conference will focus on the following major reforms:

Pillar 2 and Qualified Domestic Minimum Top-Up Tax (QDMTT): This reform aims to ensure that large multinational enterprises (MNEs) pay a minimum level of tax on their income in each jurisdiction where they operate. The QDMTT is a domestic minimum tax that applies to local constituent entities of in-scope MNEs and produces outcomes consistent with the Global Anti-Base Erosion (GloBE) rules. This panel will delve into the implications of these tax reforms on multinational enterprises, providing insights from experts at the OECD, PwC, CA Sachin Sinha and the Mauritius Revenue Authority.

Wealth Management: Post Grandfathering of Tax-Exempt Status: This session will explore the changes in wealth management following the end of tax-exempt status, with speakers from Standard Bank Trust Company Mauritius, Axis Fiduciary and Forvis Mazars.

Cross-Border Investment Structuring in the Landscape of Transfer Pricing: This panel will address the evolving challenges in cross-border investment structuring, featuring insights from Kings College London, The Mauritius Commercial Bank Ltd, Forvis Mazars South Africa, and Rogers Capital Tax.

Tax Dispute and its Challenges in Mauritius: The final panel will discuss the legal and practical challenges of tax disputes in Mauritius, with contributions from the Mauritius Revenue Authority, Venture Law, IQ EQ Mauritius and the Assessment Review Committee.

These discussions will provide a comprehensive understanding of the dynamic changes and innovative approaches in the field of international taxation. The conference aims to foster meaningful dialogue between participants, providing a platform for experts, policymakers, academics, and practitioners to share insights and experiences related to these significant reforms.

From your perspective, what are the most pressing challenges small island economies like Mauritius face in adapting to these reforms?

Small island economies face several challenges in adapting to the ongoing international tax reforms:

Economic Vulnerability: Small island economies are often highly dependent on a limited number of economic sectors, such as tourism, financial services, and agriculture. This makes them particularly vulnerable to global economic fluctuations and external shocks. The implementation of international tax reforms, such as BEPS 2.0 and the global minimum tax, can further exacerbate these vulnerabilities by impacting key sectors and reducing the attractiveness of these economies as investment destinations.

Compliance and Administrative Capacity: Adapting to complex international tax reforms requires significant administrative capacity and expertise. Small island economies may face challenges in building and maintaining the necessary infrastructure and human resources to ensure compliance with new regulations. This can lead to increased compliance costs and administrative burdens for both the government and businesses.

Maintaining Competitiveness: Small island economies often rely on favourable tax regimes to attract foreign investment and stimulate economic growth. The introduction of global minimum tax rules and other international tax reforms may limit their ability to offer competitive tax incentives. Balancing the need to comply with international standards while maintaining a competitive edge in the global market is a significant challenge.

Resource Constraints: Limited financial and technical resources can hinder the ability of small island economies to effectively implement and adapt to international tax reforms. This includes the need for investment in technology, training, and capacity-building initiatives to ensure that tax authorities and businesses are well-equipped to navigate the evolving tax landscape.

International Cooperation and Advocacy: Small island economies must actively engage in international tax discussions and advocate for their unique challenges and interests. Ensuring that their voices are heard and that their specific circumstances are considered in the formulation of global tax policies is crucial for achieving fair and equitable outcomes.

In conclusion, while the ongoing international tax reforms present significant challenges for small island economies like Mauritius, they also offer opportunities for strengthening tax systems, enhancing transparency, and fostering sustainable economic growth. By addressing these challenges through strategic planning, capacity-building, and international cooperation, small island economies can successfully navigate the evolving global tax landscape.

Measures introduced by the Trump administration… have steered global tax policies away from coordinated reform and towards a more fractured and confrontational environment.

How do you see the balance between tax competitiveness to attract investment, and the need to align with global standards?

Balancing tax competitiveness for investment attraction with the need to align with global standards is a complex yet crucial task for any jurisdiction, including Mauritius. On one hand, competitive tax policies are essential for attracting foreign direct investment (FDI), stimulating economic growth, and creating jobs. Favourable tax rates and incentives can make a jurisdiction more appealing to multinational enterprises (MNEs) looking to establish or expand their operations. This, in turn, can lead to increased capital inflows, technology transfer, and overall economic development.

On the other hand, aligning with global tax standards is equally important to ensure transparency, fairness, and compliance with international norms. The implementation of initiatives such as BEPS 2.0 and the global minimum tax aims to curb tax avoidance and profit shifting by MNEs, ensuring that they pay their fair share of taxes in the jurisdictions where they operate. Adhering to these standards enhances a jurisdiction’s reputation, fosters trust among international investors, and promotes a level playing field for businesses.

The key to achieving this balance lies in designing tax policies that are both competitive and compliant with global standards. This involves offering targeted tax incentives that attract investment without undermining the integrity of the tax system. For instance, Mauritius can focus on providing incentives for sectors that drive sustainable growth, such as technology, renewable energy, and financial services, while ensuring that these incentives are transparent and aligned with international best practices.

Moreover, continuous dialogue and cooperation with international tax bodies, such as the OECD, UN or ATAF, can help Mauritius stay abreast of global tax developments and adapt its policies accordingly. By striking the right balance between competitiveness and compliance, Mauritius can position itself as a preferred investment destination while contributing to the global effort to create a fair and transparent international tax system

One of the conference’s objectives is to analyse compliance, enforcement, and policy formulation. In practice, what role can professional associations like IFA play in shaping policy advocacy?

Professional associations like the International Fiscal Association play a crucial role in shaping policy advocacy, particularly in the realm of international taxation. Their involvement is multifaceted and impactful in several key areas.

Firstly, associations like IFA engage in policy research and analysis, providing evidence-based recommendations to policymakers. They conduct thorough research on complex tax issues, draft position papers, and develop policy briefs that highlight industry concerns and suggest viable solutions. This data-driven approach helps ensure that policy decisions are informed by accurate and comprehensive information.

Moreover, professional associations play a pivotal role in fostering dialogue and collaboration among diverse stakeholders. Through conferences, workshops, and networking events, they facilitate the exchange of ideas, experiences, and best practices. This exchange not only enhances the collective knowledge and understanding of tax issues, but also cultivates a sense of solidarity and shared responsibility among professionals working towards common goals.

Additionally, associations often engage in lobbying efforts to influence legislative and regulatory frameworks. By representing collective industry interests, they help shape laws and regulations that promote business growth while addressing potential challenges. Their involvement ensures that regulations are practical, aligned with industry standards, and conducive to a fair and transparent tax system.

In conclusion, professional associations like IFA play a vital role in shaping policy advocacy by representing their members’ interests, conducting policy research, fostering stakeholder collaboration, and engaging in lobbying efforts. Their contributions are essential for ensuring that tax policies are well-informed, equitable, and effective in addressing the evolving challenges of the international tax landscape.

What lessons can be drawn from the Asia and Africa regions regarding compliance challenges and opportunities for harmonisation?

From a tax perspective, Asia and Africa present distinct, yet interconnected challenges and opportunities in the realm of compliance and harmonisation. In Asia, the diversity of tax systems—from highly digitised and transparent regimes like Singapore and South Korea to more complex and evolving frameworks in countries such as India, Indonesia, and Vietnam—creates significant compliance burdens for multinational enterprises. Transfer pricing regulations are becoming increasingly stringent, with tax authorities demanding comprehensive documentation and actively engaging in audits and dispute resolution. The rapid pace of digitalisation in some jurisdictions has improved tax administration, but uneven adoption across the region continues to hinder consistency and efficiency.

Africa, meanwhile, faces structural challenges including limited administrative capacity, a large informal economy, and fragmented tax legislation across jurisdictions. Many tax authorities struggle with enforcement and taxpayer education, which affects voluntary compliance and revenue mobilisation. However, there is growing momentum toward harmonisation, driven by regional initiatives such as the African Tax Administration Forum (ATAF) and the African Continental Free Trade Area (AfCFTA). These bodies are promoting alignment with international standards, including OECD guidelines on Base Erosion and Profit Shifting (BEPS) and transfer pricing, while encouraging the adoption of digital tax platforms like Kenya’s iTax and Rwanda’s e-Tax.

Both regions underscore the importance of regional cooperation, capacity building, and technology-driven reform. Harmonisation efforts—such as unified reporting standards, regional tax treaties, and shared compliance frameworks—can reduce administrative burdens, enhance transparency, and foster cross-border investment. For tax professionals and policymakers, the key lesson is that harmonisation must be pursued with sensitivity to local economic realities and institutional capacities. A balanced approach that combines global best practices with tailored regional solutions is essential for improving tax compliance, reducing disputes, and supporting sustainable development across Asia and Africa.

How can tax professionals and businesses in Mauritius prepare to navigate the evolving compliance landscape?

Tax professionals and businesses in Mauritius can take several proactive steps. Some of the key strategies are:

Firstly, staying informed about the latest tax regulations and reforms is crucial. This includes understanding the implications of international tax initiatives such as BEPS 2.0 and the global minimum tax. Regularly attending industry conferences, such as the 16th Asia/Africa IFA Conference, and participating in professional development courses can help professionals stay up to date with the latest developments and best practices.

Secondly, investing in technology and automation can significantly enhance compliance efforts. Implementing advanced tax software solutions can streamline compliance processes, reduce the risk of errors, and ensure timely and accurate reporting. These tools can also help businesses manage the increasing complexity of tax regulations and improve overall efficiency.

Thirdly, building a strong compliance team is essential. This involves hiring and retaining skilled professionals who are well-versed in the nuances of regulatory compliance. Providing ongoing training and development opportunities for staff can help ensure that they are equipped to handle the evolving compliance landscape.

Additionally, fostering a culture of compliance within the organization is important. Management should prioritize compliance and risk assessment as much as the performance criteria, ensuring that compliance programs are well-supported and effectively implemented. This includes conducting regular risk assessments and audits to identify and mitigate potential compliance risks.

Lastly, engaging with professional associations and industry bodies can provide valuable support and resources. Associations like IFA play a crucial role in shaping policy advocacy, conducting policy research, and fostering dialogue among stakeholders. By actively participating in these associations, tax professionals and businesses can stay informed about industry trends, share best practices, and contribute to the development of effective tax policies.

In conclusion, by staying informed, investing in technology, building a strong compliance team, fostering a culture of compliance, and engaging with professional associations, tax professionals and businesses in Mauritius can effectively navigate the evolving compliance landscape.