EU lists Mauritius as high risk country for money laundering

Port Louis, Mauritius, is considered a tax haven. PHOTO | FILE

Companies operating in Mauritius face a test of integrity after the European Union included the island on its revised list of high risk jurisdiction for money laundering and terror funding.

Mauritius has been a popular financial haven for the region’s wealthy individuals, with several companies registering their subsidiaries in Port Louis mostly due to its favourable tax regime with corporate and export taxes of 15 per cent and three per cent, respectively.