Shaping the future of international taxation at IFA Mauritius

On 25 September 2025, the International Fiscal Association (IFA) Mauritius held its annual Asia/Africa conference at Le Meridien, bringing together leading tax practitioners, regulators, and business leaders from Mauritius and abroad to discuss the fast-evolving international tax landscape.

As a sponsor of the conference, MCB was also actively represented by Bhavish Naeck, Group Head of Finance; Kavi Udhin, Tax Advisory Manager; and Danen Narrainen, Tax Advisory Executive, reflecting the bank’s continued commitment to shaping tax dialogue and reinforcing Mauritius’ role as a trusted International Financial Centre.

As part of this participation, Kavi (Deeol) Udhin joined one of the panels: “Exploring the implications of cross-border investment: navigating tax planning post transfer pricing legislation.” The panel featured renowned international and local experts, including Professor Jonathan Schwarz (UK), Charl Hall (Forvis Mazars South Africa), and Ryan Allas (Rogers Capital, Mauritius). Together, they explored how new transfer pricing (TP) rules and global tax reforms will affect cross-border investments, compliance requirements, and dispute resolution.

Representing the taxpayer’s perspective, Kavi shared insights on:

• The challenges multinational groups face in aligning intra-group transactions with the arm’s length principle in a highly regulated banking environment.
  
• The importance of embedding TP compliance into governance and risk management frameworks, rather than treating it as a mere documentation exercise.
  
• The need for Mauritius to balance robust compliance with global standards and its positioning as a competitive, well-regulated investment gateway.

Kavi also underlined that, with the Finance Act 2025 now formally legislating TP documentation requirements, Mauritius should consider introducing Advance Pricing Agreements (APAs). These arrangements between taxpayers and tax authorities provide certainty, reduce disputes, and enhance competitiveness.

As he noted: “For Mauritius to remain attractive, it’s not only about meeting OECD standards but also about offering certainty and clarity for investors. Mechanisms like Advance Pricing Agreements could play a key role in the years ahead.”

The conference closed with remarks by Bhavish Naeck, Group Head of Finance at MCB, who highlighted the bank’s active role within the IFC ecosystem. He underlined Mauritius’ unique positioning as a trusted and well-regulated financial centre, built on good governance and compliance with international standards.

“At MCB, our commitment goes far beyond traditional banking,” Bhavish said. “We are proud to partner in infrastructure, trade, and commerce to drive sustainable growth, while also supporting global institutions and corporates in cross-border activity with the highest compliance standards.”

He also pointed to the future of the financial ecosystem: “Emerging sectors such as fintech and the blue and green economies will define the Mauritius of tomorrow. Growth in these areas relies on a strong and predictable fiscal environment — exactly what platforms like the IFA help to foster.”

Bhavish concluded with a call for collaboration: “No single institution can address today’s interconnected challenges alone. Only through strong partnerships between government, regulators, and industry can Mauritius remain competitive and resilient.” 

Through sponsorship, thought leadership, and active engagement, MCB reaffirmed its pledge to contribute proactively to Mauritius’ development as an International Financial Centre and to support the region’s sustainable and inclusive growth.

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